OMAHA, Neb. (AP) — CIT Group is buying Mutual of Omaha Bank for $1 billion to expand its commercial banking operations.
The deal would mean the end to the Mutual of Omaha's foray into the...
LONDON (AP) — Bank HSBC on Monday announced the surprise departure of CEO John Flint after just 18 months, saying new leadership was needed amid increasing economic uncertainty, and that it was...
DHAKA, Bangladesh (AP) — Bangladesh's central bank has filed a lawsuit in a New York court against a Philippine bank, seeking damages and the return of $81 million stolen from its account with the Federal Reserve Bank of New York in 2016, an official said Friday.
Abu Hena Mohd. Rajee Hassan, head of Bangladesh Bank's Finance Intelligence Unit, confirmed that the case was filed in the Southern District Court of New York against Manila-based Rizal Commercial Banking Corp., or RCBC.
FRANKFURT, Germany (AP) — A global financial body warns central banks should carefully weigh the risks before introducing their own virtual currencies, saying such innovations could risk destabilizing banking systems and unleash disruption across borders.
But it said some forms of digital innovation could help by making trading in stocks and currencies more efficient.
MONTPELIER, Vt. (AP) — A 30-year-veteran of the retail and commercial banking industry is the new deputy commissioner of the Vermont Department of Financial Regulation's Banking Division.
The appointment of Molly Dillon was announced on Thursday by Financial Regulation Commissioner Michael Pieciak.
Dillon comes to the state from the Merchants Trust Co. in Burlington where she worked for eight years as senior vice president and as president of Merchants Trust Co.
SIOUX FALLS, S.D. (AP) — The finance industry has lost hundreds of workers in the past three years as health care and retail companies continue growing their workforce in the area.
WASHINGTON (AP) — While Republicans in Congress craft a bill to unwind the tighter financial rules that took effect after the 2008 crisis, President Donald Trump is looking in another, seemingly opposite direction: He's entertaining the idea of restoring the Depression-era firewall between commercial banking and its riskier investment side.
If Congress reinstated such a law, it might lead to the breakup of big banks.
MANILA, Philippines (AP) — The Philippine central bank on Friday imposed a 1 billion peso ($21 million) fine, its largest ever, on a local commercial bank which became embroiled in the laundering of $81 million stolen by hackers from a U.S. Federal Reserve account belonging to Bangladesh's central bank.
The Rizal Commercial Banking Corp. said it would pay the fine in two installments. The Philippine central bank said the action affirms its "strong commitment to ensure...
NEW YORK (AP) — Well at least the Democrats and the Republicans agree on something at their conventions: They both want to revive a Depression-era bank law that was abolished more than 15 years ago.
The platforms of both parties call for the reinstatement of the Glass-Steagall Act, a law that would lead to the breakup of major U.S. banks like JPMorgan Chase in order to separate investment banking from commercial banking.
NEW YORK (AP) — The Republican Party has taken a page straight out of the campaign books of Bernie Sanders and Elizabeth Warren.
What? No, we're not kidding.
In the party's 2016 platform, the GOP advocates for reinstating the Glass-Steagall Act, a Depression-era law that regulated the U.S. banking industry until it was repealed in 1999. Bringing the law back would lead to the breakup of major U.S. banks like JPMorgan Chase in order to separate investment banking...
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