Philadelphia Bank Manager, New York Accomplice Nabbed for 38 False COVID-19 Loans
CAMDEN, NJ – Tommy Hawkins, a former branch manager of a national bank, and Sieff Robert Sargeant, a New York resident, have pleaded guilty to charges related to a multi-state COVID-19 relief…
China Nov new bank loans rise more slowly than expected
By Judy Hua and Kevin Yao BEIJING (Reuters) -New bank lending in China rebounded less than expected in November from the previous month, as the central bank seeks to bolster slowing growth…
Some banks may struggle to pay back ECB loans, says EU watchdog
By Huw Jones LONDON (Reuters) – Some banks in the euro zone could struggle to pay back money borrowed from the European Central Bank as volatile markets make it harder to raise…
Bank of China offers loans to ease Chinese developer’s liquidity
HONG KONG (Reuters) – Bank of China, one of China’s top four state-owned banks, has offered offshore loans to cash-starved Chinese property developer Longfor Group Holdings Ltd, it said in a statement…
Intesa Sanpaolo says repaid around 5.5 billion euros of ECB loans
MILAN (Reuters) – Italy’s Intesa Sanpaolo said on Friday it had repaid around 5.5 billion euros ($5.81 billion) in loans from the European Central Bank (ECB). The early repayment leaves the group…
Walmart plans to offer BNPL loans through its fintech venture – report
(Reuters) – The fintech venture backed by Walmart Inc is planning to launch buy now, pay later loans as soon as next year, the Information reported on Thursday, citing three people familiar…
Musk’s bankers mull new Tesla margin loans to slash Twitter debt – Bloomberg News
(Reuters) – Billionaire Elon Musk’s bankers are considering providing the Tesla Inc Chief Executive Officer with new margin loans backed by the U.S. automaker’s stock to replace some of the high interest…
Credit Agricole stops loans for new oil fields, plans more emission cuts
By Olivier Sorgho and Virginia Furness PARIS (Reuters) – France’s biggest retail lender Credit Agricole said on Tuesday it has stopped financing new oil extraction projects and laid out plans to cut…
Los Angeles Man Found Guilty of Stealing More Than $150,000 and Attempting to Steal Nearly $1.9 Million More in COVID Business Loans
LOS ANGELES – A downtown Los Angeles man was found guilty today by a jury of federal criminal charges for fraudulently obtaining more than $150,000 – and attempted to obtain an…
Seventeen New York City And State Public Employees Charged With Fraudulently Obtaining Pandemic Relief Loans
Damian Williams, the United States Attorney for the Southern District of New York, Thomas M. Fattorusso, Special Agent in Charge of the New York Field Office of the Internal Revenue Service, Criminal…
Liberty County Man and Woman Behind My Buddy Loans Sentenced for Fraud Related to COVID Relief
TEXARKANA, Texas– A Cleveland, Texas man and woman have been sentenced to federal prison for wire fraud violations in the Eastern District of Texas, announced U.S. Attorney Brit Featherston today. Clifton Pape,…
Prince George’s County Man Pleads Guilty to a Federal Wire Fraud Conspiracy to Obtain Over $750,000 in COVID-19 CARES Act Loans and Unemployment Insurance Benefits
Greenbelt, Maryland – Jaleel Phillips, age 25, of Capital Heights, Maryland, pleaded guilty today to a federal wire fraud conspiracy, in relation to a scheme to unlawfully obtain COVID-19 relief loans and…
China’s bank sector issued 2.64 trillion yuan in real estate development loans in Jan-Oct
BEIJING (Reuters) – China’s banking sector issued 2.64 trillion yuan ($369 billion) in real estate development loans and 4.84 trillion yuan in mortgage loans from January to October, China’s banking regulator said…
Murrieta Man Sentenced to 5 Years in Prison for Misusing COVID-Relief Business Loans on Personal Expenses Such as Luxury Cars
LOS ANGELES – A Riverside County man was sentenced today to 60 months in federal prison for using hundreds of thousands of dollars from the Paycheck Protection Program (PPP) for personal…
Russian firms cut forex loans, exposure in Oct -central bank
MOSCOW (Reuters) – Russian companies reduced their foreign currency loans by $7.4 billion last month and have also cut forex holdings on the accounts by $11.1 billion, the central bank said on…
China to provide 200 billion yuan in loans to commercial banks for housing completions
BEIJING (Reuters) – The Chinese central bank will provide 200 billion yuan ($27.92 billion) in loans to six commercial banks for housing completions, deputy central bank governor Pan Gongsheng was quoted as…
Catoosa Woman Sentenced for Fraudulently Applying for $1M in Loans
A Catoosa woman who defrauded banks and credit unions through a complex scheme involving falsified loan applications and lien releases was sentenced Friday in federal court, announced U.S. Attorney Clint Johnson. U.S.…
Euro zone banks to repay 296 billion euros in ECB loans
FRANKFURT (Reuters) – Euro zone banks are set to repay 296 billion euros in multi-year loans from the European Central Bank next week, the ECB said on Friday, in its latest step…
Wells Fargo starts small-dollar loans amid overdraft scrutiny
By Lananh Nguyen NEW YORK (Reuters) – Wells Fargo & Co introduced small-dollar loans to customers online, the bank said Wednesday, as overdraft fees draw greater scrutiny in the United States. The…
Riverside County Man Sentenced to 8½ Years in Prison for Stealing Over $6.6 Million in COVID-19 Loans Intended for Small Businesses
LOS ANGELES – A Corona man was sentenced today to 102 months in federal prison for fraudulently obtaining more than $6.6 million in Paycheck Protection Program (PPP) and Economic Injury Disaster…
China seen leaving medium-term policy rate unchanged, fully roll over maturing loans
SHANGHAI (Reuters) – China’s central bank is likely to fully roll over maturing medium-term policy loans while keeping the borrowing cost unchanged for the third straight month this week, a Reuters survey…
Bigger loans help Brazil bank Itau’s earnings outclass peers
SAO PAULO (Reuters) -Latin America’s biggest bank Itau Unibanco SA on Thursday posted a recurring net profit rise of 19%, outperforming other private Brazilian lenders as a larger loan book helped it…
U.S. provides grants, loans to expand meat processing capacity
CHICAGO (Reuters) – The U.S. Department of Agriculture will direct $73 million in grants to small- and medium-sized meat and poultry processors to expand their capacity and deliver more funds through lending…
JPMorgan expects banks to repay 500-700 billion euros of ECB TLTRO loans in Nov
LONDON (Reuters) – Analysts at investment bank JPMorgan have estimated that banks will repay between 500 and 700 billion euros ($494-$692 billion)of the European Central Bank’s ultra cheap funding next month after…
ECB gets rid of subsidy on bank loans to mop up cash
By Francesco Canepa and Yoruk Bahceli FRANKFURT (Reuters) – The European Central Bank on Thursday got rid of a subsidy on over 2 trillion euros of loans to banks to encourage them…
China seeks to promote development of private businesses with more loans
BEIJING (Reuters) – China’s cabinet issued rules on Tuesday to promote private businesses, including incentives for financial institutions to lend to them, in its latest move to support an economy facing multiple…
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