Yes Bank is facing criticism by the Reserve Bank of India, which contends disclosures from an audit report were released in an effort to mislead the public. According to a report in Bloomberg, Yes Bank released findings from a Reserve Bank of India risk assessment report, saying...
The CEO of financial giant Wells Fargo, Timothy Sloan, is expected to appear alone before the House Financial Services Committee so it can scrutinize the bank’s recent abuse scandals, according to a report in The Wall Street Journal. Sloan would appear before the panel on...
National Australia Bank chief executive Andrew Thorburn and chairman Ken Henry are leaving amid criticism of their leadership at the bank. The Financial Times, citing a statement from Thorburn, said the CEO acknowledged that the bank “has sustained damage as a result of its past...
NoteMachine, one of the biggest ATM operators in the U.K., is threatening to sue Link, the U.K. body that oversees the network of cash machines in the country. According to a report in The Financial Times, NoteMachine contends Link ran afoul of competition rules by...
Australia’s competition regulator is going after the banking industry in the country, vowing to punish what it claims is misconduct, reported The Financial Times. The report, citing Rod Sims, chief executive of the Australian Competition and Consumer Commission, reported that having more competition in the...
Deutsche Bank’s handling of billions of dollars in suspicious transactions from Danske Bank’s Estonian branch is raising the ire of the Federal Reserve, which is looking into it. Bloomberg, citing two people briefed on the situation who requested anonymity, reported the Federal Reserve’s move to...
Wells Fargo, implicated in a far-reaching banking scandal where it was accused of creating fake accounts and charging customers for services they didn’t sign up for, has agreed to pay $575 million to settle claims, according to reports. Wells Fargo previously agreed to pay $190...
Goldman Sachs could be on the hook for $7.5 billion in reparations from the Malaysia government pertaining to its link to the 1MDB scandal. According to a report in the New York Post citing the country’s finance minister, Malaysian prosecutors are expected to file charges in the coming...
A bipartisan group of U.S. senators has expressed concerns that FinTech startup Robinhood is not being transparent about its cash management service. After announcing a checking and savings product with 3 percent interest earlier this month, the company then removed any mention of the products from...
