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Banking News

Banking news continually updated from thousands of sources around the net.

1 hr ago | Business Journal

Wells Fargo creates startup accelerator to get front-row seat on financial innovation

Wells Fargo said Wednesday that it established the Wells Fargo Startup Accelerator designed for startups pursuing innovation in financial services.

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Related Topix: Financial Services, Wells Fargo

5 hrs ago | Inside Bay Area

Biz Break: Pandora overwhelmingly white, close to gender equality

Today: Pandora Media releases workforce diversity data that shows Oakland's largest tech company to be more than 70 percent white and nearly equal along gender lines.

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Related Topix: Pandora, Startups, Pandora Media, Financial Services, Silicon Valley Bancshares, Oakland, CA

10 hrs ago | Reuters

RBS settles copyright lawsuit after U.S. judge blocks software's use

Terms of the settlement with Complex Systems Inc were not disclosed. But RBS in a statement said the deal would allow it to use the company's BankTrade software and continue processing trade finance transactions across all of its legal entities.

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Related Topix: Bank of America, Financial Services, Second Circuit Court of Appeals, US News

Wed Aug 20, 2014

Yahoo!

JPMorgan, BofA to raise junior banker pay by 20 percent: sources

JPMorgan Chase & Co and Bank of America Corp are planning to hike salaries of junior employees by at least 20 percent, people familiar with the proceedings said.

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Related Topix: JP Morgan Chase , Bank of America, Financial Services, Goldman Sachs, Investment Services

KRMG-AM Tulsa

Argentina defends plan to pay creditors outside US

Argentine Economy Minister Axel Kicillof speaks during a news conference in Buenos Aires, Argentina, Wednesday, Aug. 20, 2014.

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Related Topix: Argentina, World News, Bank of New York, Financial Services

Park Record

Argentina defends plan to pay creditors outside US

Argentine Economy Minister Axel Kicillof speaks during a news conference in Buenos Aires, Argentina, Wednesday, Aug. 20, 2014.

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Related Topix: Argentina, World News, Bank of New York, Financial Services, Park City, UT

Brandon Sun

RBC forecasts Canadian housing market will cool in 2015 if interest rates rise

RBC Economics says higher interest rates will put a strain on the Canadian housing market in 2015 and "substantially" moderate prices increases.

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Related Topix: Financial Services, RBC Financial Group, Housing

The Toronto Star

Bank of America reaches $17 billion settlement with U.S.

Bank of America has reached a record $17 billion settlement to resolve an investigation into its role in the sale of mortgage-backed securities before the 2008 financial crisis, officials directly familiar with the matter said Wednesday.

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Related Topix: Home, Mortgage, Personal Finance, Foreclosures, Financial Services, CitiMortgage, Citigroup

NewsOK.com

Yellen to give her outlook as Fed honeymoon fades

Janet Yellen has won credit for guiding the Federal Reserve's first six months of transition from the Ben Bernanke era.

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Related Topix: Ben Bernanke, Financial Services, Federal Reserve Bank of Kansas City

Merced Sun-Star

Still inflating the student loan bubble

Perhaps we should not be surprised that the Obama administration's solution to a problem of high debts is to incur even more debt.

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Related Topix: Economics News, Foreclosures, Bankruptcy, Financial Services, Federal Reserve Bank of New York

WTLV

Florida man, 83, admits hiding $1.1M from IRS

An 83-year-old Florida man pleaded guilty Tuesday to hiding at least $1.1 million from the IRS in secret Switzerland and Israel bank accounts for more than a quarter century.

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Related Topix: Financial Services, Ubs Ag, Weird

West Australian

Citigroup seeks to exit Japanese retail banking - source

The company which pioneered 24-hour ATMs in Japan and was the only foreign bank to make a major push into its retail banking sector is throwing in the towel after failing to gain enough scale to justify its costs.

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Related Topix: Financial Services, CitiMortgage, Citigroup, Home, Mortgage, Personal Finance

Tue Aug 19, 2014

MarketWatch

The Wall Street Journal: Citigroup may sell Japan retail-banking business

Citigroup, which for decades has been a leading Western bank in Japan, is considering a possible auction to sell the retail business, the people said.

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Related Topix: Financial Services, CitiMortgage, Citigroup

Business Journal

Fifth Third Center for sale, with 65 E. State St. owner seen as possible buyer

Dallas-based Tier REIT put the 330,840-square-foot tower at 21 E. State St. and a 508-397-square-foot, Fifth Third-anchored property at 600 Superior Ave. in downtown Cleveland up for sale as non-core assets.

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Related Topix: REIT, Personal Finance, Financial Services, Fifth Third Bancorp, Cleveland, OH, Real Estate, Forest City Enterprises, Columbus, OH

Business Journal

Bank of America lends $17M to build Audi dealership

Bank of America granted a $16.83 million construction loan to build an Audi dealership in Fort Lauderdale.

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Related Topix: Bank of America, Financial Services, Fort Lauderdale, FL, Home, Mortgage, Personal Finance

Reuters

Citi tells court its Argentina banking license at risk

Citigroup has told the U.S. appeals court overseeing the dispute between Argentina and hedge funds refusing to accept terms of the country's debt restructuring that its Argentine banking license may be at risk as a result of the standoff.

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Related Topix: South America, Argentina, World News, Financial Services, CitiMortgage, Citigroup, Financial Markets, US News, US Supreme Court

CBS 3 Springfield

Golf partners charged with insider trading

Federal securities regulators have charged a former Eastern Bank executive with insider trading for allegedly telling a golfing partner about an impending acquisition.

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Related Topix: Securities and Exchange Commission, Corporate / Securities Law, Law, Financial Services, Wainwright Bank and Trust, Holyoke, MA, Springfield, MA

Business Journal

Bay Bank wants to double the size of its newly renamed mortgage division

Bay Bancorp Inc. is renaming its mortgage division as part of a plan to drastically increase the size of it.

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Related Topix: Financial Services, Carrollton Bancorp

Business Journal

BofA's David Darnell to become vice chairman, move to Florida

David Darnell, right, was recently recognized by the Charlotte Chamber for his work on the Charlotte Minority Economic Development Initiative.

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Related Topix: Bank of America, Financial Services, Tampa, FL

Wall Street Journal

When Packing for Jackson Hole, Include These Economic Reports

As central bankers, economists, finance ministers and other officials from around the globe get set to gather at Jackson Hole, Wyo., this coming Thursday, the world's largest economy is coming off the best six-month run of job gains since early 2006.

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Related Topix: Federal Reserve Bank of Kansas City, Financial Services

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