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Keyword: banks

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  • Some financial companies move to cut off services to firearm companies

    06/17/2018 8:27:31 PM PDT · by rogerantone1 · 18 replies
    When gun control advocates can’t win on guns, they have tried to either silence those who support self-defense from having their views covered in the media, youtube banning videos intending to sell firearms or accessories or how to use guns or build them, or prevent firearms companies from getting financing. On financing, the first strategy was to use government pressure. With that ended, individual finance companies are making life difficult for those in the firearms industry.
  • Small Business Lending Declined after Dodd-Frank Passed

    06/05/2018 8:09:05 AM PDT · by reaganaut1 · 9 replies
    The Dodd–Frank Wall Street Reform and Consumer Protection Act, which was passed in the wake of the 2008 financial crisis and was designed to safeguard the banking system, appears to have made it more difficult for small businesses and entrepreneurs to obtain funding. In The Impact of the Dodd-Frank Act on Small Business (NBER Working Paper No. 24501), Michael D. Bordo and John V. Duca find that the 2010 legislation reduced the incentives for all banks to make small loans. It also raised the benefits of scale in the banking business, tilting the playing field away from small banks which...
  • The Cyber Heists Banks Don't Want You To Know About

    05/30/2018 3:04:01 PM PDT · by bananaman22 · 8 replies
    Safehaven.com ^ | 05-30-2018 | Charles
    Bank robberies aren’t as exciting as they used to be when they were the stuff of Ocean’s Eleven style, or the coarser Bonnie and Clyde. No more black balaclavas or dead president masks. No more guns, no more physical threats. This is the age of the cyber thief, and Mexico’s recent $110-million bank heist didn’t even require a criminal to touch the money at all. With a push of a button it was gone--almost. Gone, too, is the excitement of getting caught up in a bank robbery as dramatized on television. But the lack of physical excitement also means that...
  • Did Banks Get Bailed Out Because They Laundered Drug Money & Hide Elite Wealth?

    05/09/2018 9:43:00 AM PDT · by davikkm · 12 replies
    IWB ^ | Thinker
    American history is beyond fascinating and most Americans don't even know it. What would you say if you were offered your own kingdom full of servants? That is more or less what the eight presidents before George Washington who only served one term and 95% of a nation that can't name one. The American middle class was never meant to be more than the mule, oxen, yoke to tow the line and support the wars, corporations, poor, and big pharma. Middle class American moving either up or down - to the government food line, or the no tax, launder your...
  • Big U.S. banks rushing to become Sharia compliant and what this means for you

    05/03/2018 7:34:03 AM PDT · by LeoHohmann · 32 replies
    LeoHohmann.com ^ | Leo Hohmann
    Western banking met Islam many decades ago, but only began to sleep with her a few years ago. Since then, it is has become a wanton and open affair. The implications for the West, and especially for the U.S., are staggering. Because all Islamic banking products must be created and offered according to strict Sharia law, global banks are doing for Islam what it could never do on its own: Give legitimacy to Sharia and infiltrate it into the fabric of Western society.
  • Banks, Credit Card Companies Attack Second Amendment

    05/01/2018 2:26:22 PM PDT · by Sopater · 20 replies
    New American ^ | 04/30/2018 | Bob Adelmann
    When the Bank of America (BofA) and Citigroup announced changes in their policies earlier this month restricting loans to companies that sell or manufacture firearms, Senator Mike Crapo (R-Idaho), chairman of the Senate Committee on Banking, Housing and Urban Affairs, sent a letter to the CEO of each bank:It is deeply concerning to me when large national banks … which receive significant forms of government support and benefits, use their market power to manage social policy by withholding access to credit to customers and companies they disfavor….We should all be concerned if banks … seek to replace legislators and policymakers...
  • Banks, Credit-Card Companies Explore Ways to Monitor Gun Purchases

    04/30/2018 3:39:32 AM PDT · by abb · 61 replies
    The Wall Street Journal ^ | April 30, 2018 | AnnaMaria Andriotis, Telis Demos, and Emily Glazer
    Banks and credit-card companies are discussing ways to identify purchases of guns in their payment systems, a move that could be a prelude to restricting such transactions, according to people familiar with the talks. The discussions are preliminary but could be deeply controversial. Gun-rights groups have long resisted any effort to monitor which Americans own guns; there are federal laws limiting the government’s use of electronic databases of gun sales. The financial companies have explored creating a new credit-card code for firearms dealers, similar to how they code restaurants, or department stores, according to people familiar with the matter. Another...
  • SunTrust announces possible breach of 1.5 million customer records

    04/21/2018 8:58:55 AM PDT · by sheikdetailfeather · 38 replies
    Clark Howard ^ | 4-20-2018 | Theo Thimou
    What we know about the alleged SunTrust data breach On April 20, SunTrust Bank announced that an insider may have stolen records on 1,500,000 customers with the criminal intent of sharing them outside the organization. The bank first became aware of the likelihood of “inappropriate access” of records in February. A subsequent internal investigation now points to an ex-employee for the alleged theft. It is believed the culprit tried to print the records and share them with a “criminal third party,” according to the Wall Street Journal. The investigation is still ongoing as the bank continues to work closely with...
  • Wells Fargo Pays $1 Billion to Federal Regulators

    04/20/2018 9:18:30 PM PDT · by catnipman · 71 replies
    NYslimes ^ | 4/20/2018 | MATTHEW GOLDSTEIN
    Wells Fargo will pay two federal regulators a total of $1 billion to settle an array of investigations into its mortgage and auto-lending practices. Customers were forced to pay for extending the length of so-called interest rate locks on mortgage applications even when the bank was responsible for delays in the application process. Thousands of customers who bought cars with loans from Wells Fargo were forced to buy unnecessary insurance policies from the bank with premiums that topped a $1,000 a year. The bank said the policies could have contributed to about 27,000 customers having their cars repossessed after defaulting...
  • Rahm Emanuel’s Big New Idea for Attacking Chicago’s ‘Gun Violence’ Problem

    04/19/2018 11:25:50 AM PDT · by Simon Green · 34 replies
    The Truth About Guns ^ | 04/19/18 | Dan Zimmerman
    Rahm Emanuel has tried almost everything a lefty anti-gun big city may can think of to cut back on the murder epidemic in his violent city. He’s fired and hired police superintendents, he’s tried (unsuccessfully) to eliminate gun stores within city limits, he’s tried (unsuccessfully) to keep shooting ranges out of his town, he fought concealed carry to the bitter end, and he’s mumbled meaningless platitudes like “public-private mentoring partnerships” and wrung his hands over the perpetual need for more “neighborhood resources.” He’s tried bogus “violence interruptor” programs, basically paying gang bangers (with city tax dollars) to stop banging. He’s...
  • Bank of America to stop lending to military-style weapons makers

    04/10/2018 3:19:36 PM PDT · by rktman · 65 replies
    thehill.com ^ | 4/10/2018 | Luis Sanchez
    A Bank of America executive announced Tuesday that the bank will stop lending money to companies that manufacture "military-style" rifles that are available for civilians to purchase. Anne Finucane, Bank of America’s vice chair, told Bloomberg TV that the bank doesn’t want to “underwrite or finance military-style firearms” and has told a number of gun manufacturers that it will no longer do business with them. The bank has lended to the gun makers Vista Outdoor, Remington and Sturm Ruger, CNBC reported.
  • Wells Fargo Bank

    04/10/2018 9:16:18 AM PDT · by Cold War Veteran - Submarines · 21 replies
    4/10/2018 | Self
    Bank Stands up for 2nd Amendment! I support them
  • New York pushes credit card companies, banks to reconsider gun sales

    04/06/2018 3:00:20 PM PDT · by PROCON · 29 replies
    guns.com ^ | April 6, 2018 | Daniel Terrill
    New York state’s comptroller has asked a host of banks and credit card companies to explore whether or not gun transactions should be treated like high-risk purchases like porn, illicit drugs and cryptocurrencies, Bloomberg magazine reported. Comptroller Thomas DiNapoli, who oversees some $209.1 billion in the state’s public employee retirement fund, the third largest in the country, sent letters out last week urging financial institutions to consider following Citigroup’s effort to force the gun industry to adopt stricter policies. “If gun violence continues unabated in society — public outcry and calls for action may grow and create significant financial risk...
  • Private Financing for Public Infrastructure

    04/05/2018 1:11:45 AM PDT · by Tolerance Sucks Rocks
    The Lane Report ^ | March 16, 2018 | Greg Paeth
    Six Kentucky community banks that could be competing for business have agreed to work together as charter members of the specialty $150 million Commonwealth Infrastructure Fund to finance public-private partnerships (P3) in Kentucky.In the next few months, CIF is expected to reveal one or more inaugural deals.“We are looking at five to 10 potential projects that should start sometime in 2018. We expect to make loans to two or three projects in 2018 after the underwriting process has been completed,” said John Farris, who manages CIF. “We believe we will lend out all $150 million over three to five years...
  • It's time to go after Vladimir Putin's money in the West

    03/30/2018 2:20:16 PM PDT · by GoldenState_Rose · 46 replies
    Washington Post ^ | Mar 2018 | Anders Aslund
    Putin controls the Russia's state institutions, its secret police and its big state companies. Together with a few old friends from St. Petersburg, the president is tapping the big state companies through overpriced no-bid procurement, transfer pricing, asset stripping and stock manipulation. They are also making money by extorting old oligarchs and taking loans from state banks, not to be returned. Overall assessments indicate a personal enrichment of Putin and his closest cronies of some $20 billion to $25 billion a year since 2006, a pilfering from Gazprom of $60 billion from 2004 to 2007...By now, this group would have...
  • obtaining older bank records?

    02/28/2018 3:34:29 PM PST · by MNDude · 41 replies
    I am involved in the lawsuit, and I have been needing bank records from 2010. It sounds like Banks only keep the records for six or seven years. I'm curious if anyone has ever had experienced trying to obtain bank records older than 6 years and if they have had success. By the way, I am with Wells Fargo.
  • Latest Mueller indictment spells trouble for bankers, too

    02/24/2018 9:15:13 AM PST · by komibond · 13 replies
    Yahoo News ^ | 24/02/2018 | Jake Pearson
    NEW YORK (AP) -- Recently filed federal charges against President Donald Trump's ex-campaign chairman Paul Manafort could also pose legal and regulatory risks for the banks that loaned him millions of dollars against his New York real estate in recent years. The most serious exposure may be for a Rhode Island-based bank that employed a "conspirator" in Manafort's scheme to obtain a loan he couldn't afford, according to the 32-count new indictment unsealed this week. Dubbed "Lender B" in court papers, Citizens Bank not only lent Manafort $3.4 million based off of fraudulent documents but, in another case, appeared to...
  • How can banks discriminate against blacks in a free-market economy?

    02/16/2018 8:19:32 AM PST · by SeekAndFind · 20 replies
    American Thinker ^ | 02/16/2018 | Ed Straker
    The PBS NewsHour, which I love for telling me what to think and when to think it, had a piece yesterday about a black lesbian woman who claimed she couldn't get a mortgage because racist banks wouldn't lend to a black person.  When her Japanese lesbian partner applied for a loan, however, she quickly got it. Fifty years after the federal Fair Housing Act banned racial discrimination in lending, African Americans and Latinos continue to be routinely denied conventional mortgage loans at rates far higher than their white counterparts. It found a pattern of troubling denials for people of color...
  • Marijuana firms in cloudy haze over banking woes

    12/29/2017 6:11:20 PM PST · by fluorescence · 11 replies
    Dec 29 (Reuters) - Zach Lazarus, chief executive officer of A Green Alternative, a marijuana dispensary in San Diego, California, has lost count every time he re-opened a bank account after it was closed because of his connection to the cannabis industry. Lazarus has had to play a game of "whack-a-mole" with banks, likening his frustrations to a popular arcade game in which a player repeatedly gets rid of something only to have it re-appear somewhere else. Lazarus and other marijuana business owners in the $8 billion industry resort to cash-only transactions for business and to pay employees because they...
  • Turkey shocked over banker's arrest in New York

    03/29/2017 2:57:05 PM PDT · by Texas Fossil · 21 replies
    Al Monitor ^ | March 29, 2017 | Barin Kayaoglu
    A high-ranking official from Turkey’s second-largest state-owned bank was arrested in New York City March 27. On the orders of the acting US attorney for the Southern District of New York, Joon H. Kim, FBI agents arrested Mehmet Hakan Atilla, Halkbank’s vice president for international banking, for violating the US-led sanctions against Iran. The press release from Kim’s office accused Atilla with participating “in a years-long scheme to violate American sanctions laws by helping Reza Zarrab, a major gold trader, use U.S. financial institutions to engage in prohibited financial transactions that illegally funneled millions of dollars to Iran.” Zarrab, a Turkish citizen...