Wells Fargo faces customer suit over unauthorized accounts

Sep 17, 2016

Wells Fargo faces customer suit over unauthorized accounts

Wells Fargo & Co. was sued Friday by customers in what may be one of many lawsuits following disclosures that bank employees created unauthorized accounts to boost the bank’s fees. Three Utah customers sued in federal court, blaming the scandal on the bank’s push ...

Aug 31, 2016

Canada snubs U.S. in seeking to join China-led AIIB

Canada will apply to join the China-backed Asian Infrastructure Investment Bank, Ottawa’s finance department said Wednesday, in a coup for Beijing after Washington tried to dissuade its allies from signing up. “Canada is always looking for ways to create hope and opportunity for our ...

SWIFT discloses more cyberthefts, pressures banks on security

Aug 31, 2016

SWIFT discloses more cyberthefts, pressures banks on security

SWIFT, the global financial messaging system, on Tuesday disclosed new hacking attacks on its members’ banks as it pressured them to comply with security procedures instituted after February’s high-profile $81 million heist at Bangladesh Bank. In a private letter to clients, SWIFT said new ...

Aug 29, 2016

Japan's three biggest banks seeking business expansion in Africa

The three mega-banks said they will expand their businesses in Africa, following Prime Minister Shinzo Abe’s pledge over the weekend to bolster measures to boost investment in the resource-rich continent. Sumitomo Mitsui Banking Corp., Mizuho Bank and the Bank of Tokyo-Mitsubishi UFJ are aiming ...

Yellen rejects radical overhaul of Fed's policy tools

| Aug 27, 2016

Yellen rejects radical overhaul of Fed's policy tools

For all the talk of a radical shift in central banking policy, from the permanent use of negative rates to printing “helicopter money,” Federal Reserve Chair Janet Yellen appears to believe she can tackle any downturn using the tools currently at her disposal. Speaking ...