Volcker says U.S. bank oversight ineffective, seeks overhaul

Apr 20, 2015

Volcker says U.S. bank oversight ineffective, seeks overhaul

Former Federal Reserve Chairman Paul Volcker is calling for a reshaping of the U.S. financial oversight regime, which he says is splintered and ineffective. A public policy group led by Volcker issued a report Monday on the regulation of banks and Wall Street. It ...

Mar 1, 2015

Bank groups might get OK to start new businesses via subsidiaries

The Financial Services Agency is considering deregulation that could make it easier for banking groups to start new financial services through subsidiaries, sources said. By relaxing the rules governing financial holding companies, the FSA aims to encourage them to enter new finance-related businesses by ...

Dec 19, 2014

U.S. weighs response to Sony hacking attack blamed on North Korea

The United States was considering possible options on Thursday in response to a major cyberattack on Sony Pictures blamed on North Korea, amid calls for tougher sanctions on Pyongyang to cut it off from the global banking system. U.S. experts say options for the ...

Banking culture fosters dishonesty

Nov 29, 2014

Banking culture fosters dishonesty


A cesspool of fraud and lies in the banking industry has come to light since the financial crisis of 2008, raising questions about how such rogue behavior could have happened. What caused traders, asset managers and others in the money business to behave dishonestly? ...

Obama to announce $14 billion in U.S. corporate investments in Africa

Aug 6, 2014

Obama to announce $14 billion in U.S. corporate investments in Africa

President Barack Obama will announce on Tuesday that U.S. businesses have committed to investing $14 billion in construction, clean energy, banking and information technology projects across Africa, a White House official said. The announcement will occur at the U.S.-Africa Business Forum, part of a ...

| Aug 2, 2014

Bank holiday

Australian tourist: You've got to be kidding me — the best place for me to withdraw cash during my stay in Japan is at the Post Office?

Apr 1, 2014

Banks see economy withstanding sales tax increase

The economy will probably withstand the consumption tax increase that took effect Tuesday as Prime Minister Shinzo Abe prepares stimulus measures and companies raise wages, the new head of the bank lobby said. Abe remains on track to achieve his goal of ending deflation ...