Search Results for: wells fargo

Wells Fargo fined $185m for opening 2 million fake accounts

wells-fargo-fake-accounts

A top US bank, Wells Fargo, has agreed an $185 million payout settlement with California and federal regulators after it opened more than 2 million fake accounts not authorized by customers. It is the company’s second instance of fraud in recent months. “Wells Fargo employees secretly opened unauthorized accounts to …

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More Americans opting out of banking system

JP Morgan Chase bank

In the aftermath of one of the worst recessions in history, more Americans have limited or no interaction with banks, instead relying on check cashers and payday lenders to manage their finances, according to a new federal report. Not only are these Americans more vulnerable to high fees and interest …

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How 37 banks became 4

4 banks to 1

If you were wondering how banks got “too big to fail,” here’s a good place to start. This chart shows us how, over the last couple of decades, 37 banks have became just 4 mega-banks. These same 4 mega-banks have, thus far, been immune to the consequences of any and all of …

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False flag cyber attack on US banks to be blamed on Iran

Over a month ago we featured an article titled The NWO Agenda Would Move Forward with This One Simple Act, which stated the one event that could accomplish all of the agenda’s goals in one shot would be “a false flag cyber attack on Western banking institutions that they can pin …

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Major banks under investigation for ties to Mexican drug cartels

Charles Schwab Corp. founder and chairman Chuck Schwab

Federal regulators in the United States are reportedly investigation no fewer than two major American banks with regards to their relationships with clients believed to be tied to Mexican drug cartels. Reuters reported exclusively on Wednesday this week that the US Securities and Exchange Commission is probing both Charles Schwab …

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Three ways the banking system is rigged against you

banking-system-rigged

If there were ever any doubt about how completely rigged the banking system is against depositors, allow me to introduce the following: Exhibit A: Governments are working to make banks LESS safe Yesterday an unelected bureaucrat that no one has ever heard of made a stunning announcement that has sweeping implications for anyone …

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Top 50 safest global banks

Bank safe

For banking safely, global citizens had better go to the local government. And pretty much avoid the U.S. At least that seems to be the take away from Global Finance Magazine’s ranking of  the world’s safest banks.  The top 9 banks in the magazine’s World’s 50 Safest Banks list are …

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Fintech Boom in the United Kingdom Despite Brexit Worries

The ravages of a Brexit have failed to dissuade investors from plowing money into the UK’s burgeoning FinTech sector. Foreign investment levels in the United Kingdom’s FinTech arena are soaring, in spite of the exodus of European Union migrant workers, and lower levels of net migration into the UK. British …

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Morgan Stanley’s profit plunges 42%

Morgan Stanley

Wall Street bank Morgan Stanley’s profit slumped for the second straight quarter as investors fled the bond, currency and commodity markets amid uncertainty about the timing of a U.S. interest rate hike and concerns about China’s cooling economy. Morgan Stanley, the last of the big U.S. banks to release third-quarter …

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These companies are hinting at a global recession

Recession recovery

From Filip Karinja, for Birch Gold Group Despite the mainstream media running headlines like “Nowhere to go but up“, the numbers coming out on the health of the economy tell a different story. To be sure, there are some companies doing well at the moment; the media has a field day parading around …

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9th top level banker found dead within weeks

Dead men tell no tales

The dismal trail of dead bankers continues. As The Journal Star reports, a successful Lincoln businessman and member of a prominent local family died last week. Former National Bank of Commerce CEO James Stuart Jr. was found dead in Scottsdale, Ariz., the morning of Feb. 19. A family spokesman did not say what …

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Here is What the Banks Don’t Want You to Know

Transfer money abroad

As far as we can remember, banks have been the go-to option for wiring money abroad or domestically. Unfortunately, this method of sending money back and forth is neither efficient nor cost-effective. For starters, bank wire transfers are expensive and time-consuming. Banks and financial institutions typically charge high fees for …

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Bank Stocks Loved Janet Yellen’s Congressional Testimony

Bank of America

Fed chair, Janet Yellen testified before Congress on Valentine’s Day, Tuesday, 14 February 2017. The Congressional hearing provided cannon fodder to traders looking to go long on bank stocks. Yellen expressed optimism about the state of the US economy, given falling unemployment numbers, rising inflation, and robust economic growth. She …

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CNBC admits central banks rule the world

world with money

It’s a central bankers’ world, and we’re all just living in it. Entities such as the Federal Reserve and the European Central Bank in 2012 took control of global economies like never before. Based on current market and economic behavior it’s likely to be years before anything changes. After all, …

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