Bankrate’s senior industry analyst, Ted Rossman, breaks down the Consumer Financial Protection Bureau’s new rule for Buy Now Pay Later companies. Payment plan firms are now subject to the same rules as credit card companies. The agency is hoping the policy simplifies processes like disputed charges and returns.
Law enforcement in Florida released a video that captured the intense moments of a deadly bank robbery and hostage situation earlier this year. The play-by-play video, released on Saturday by the Lee County Sheriff’s Office, laid out a timeline of events and explained the decision to take down an armed bank robber who held two […]
The Supreme Court on June 10 agreed to look at a large shareholder lawsuit that claims Facebook parent Meta Platforms Inc. deceived investors regarding a data-harvesting controversy that involved Cambridge Analytica, a political consulting firm. The Supreme Court’s eventual ruling in the case could have an impact on corporate disclosure standards going forward. The case […]
Morgan Stanley’s CEO, James Gorman, announced he is stepping down during an annual shareholders meeting on Thursday. Mr. Gorman said he will leave the position on Dec. 31, giving his place to Ted Pick after a “successful transition” period. In a move unusual for Wall Street, the two other candidates for the top position will […]
TSB recently announced 250 jobs will be cut and 36 branches will close. Lloyds Bank, Barclays Bank, and NatWest group also plan to close more of their high street banks this year. NTD took to the streets to hear from individuals on how these closures have affected them.
JASPER COUNTY, INDIANA—Dave Duttlinger’s first thought when he saw a dense band of yellowish-brown dust smearing the sky above his Indiana farm was: I warned them this would happen. About 445 acres of his fields near Wheatfield, Indiana, are covered in solar panels and related machinery—land that in April 2019 Duttlinger leased to Dunns Bridge […]
The troubled Philadelphia-based Republic First Bank has imploded, with federal regulators seizing it and arranging for it to be taken over by fellow regional lender Fulton Financial, in what marks the first bank failure of 2024. The Federal Deposit Insurance Corporation (FDIC) announced on April 26 that Republic First Bank—which did business as Republic Bank—was […]
OKLAHOMA CITY—An Oklahoma judge ordered a Kansas City Chiefs superfan known as “ChiefsAholic” who admitted to a series of bank robberies to pay $10.8 million to a teller who was assaulted with a gun, though attorneys say the teller may never collect any money. A judge in Tulsa handed down the order last week against […]
Multiple bank executives have committed suicide while the Chinese Communist Party (CCP) continues to purge its financial system. The president of an inter-provincial bank died of carbon monoxide poisoning earlier last year this month, according to authorities. “Days later, the president of a local branch of a major Chinese bank died after he fell from […]
CLEVELAND—A businessman who orchestrated a $180 million check-kiting scheme and used the proceeds to live a lavish lifestyle and amass one of the world’s most revered classic car collections has been sentenced to more than eight years in prison. Najeeb Khan, 70, of Edwardsburg, Michigan, told a federal judge Thursday that he was “blinded by […]
Another key Brexit figure is facing banking troubles over his political opinions. Nigel Farage ally Richard Tice had a loan application rejected. Internal bank documents show he was deemed a “reputational risk” for being the Reform UK party leader. It comes as the finance watchdog warns it will “act” if banks wrongly deny politicians access […]
House Judiciary Committee Chairman Jim Jordan (R-Ohio) has subpoenaed Citibank amid a wider probe into whether multiple banks shared data with the U.S. government to assist in the investigation and prosecution of individuals involved in the Jan. 6, 2021 breach of the U.S. Capitol. The Republican lawmaker subpoenaed Citibank on Aug. 17 for documents and communications […]
President Joe Biden’s son, other family members, and their associates were paid more than $20 million by Russians and other foreigners while Mr. Biden was vice president, according to bank records released on Aug. 9. Russian, Ukrainian, and Kazakhstan nationals were among those paying the Biden family and their associates, according to the records. Russian […]
PLEASANT HILL, Mo.—A 78-year-old Missouri woman charged with robbing a bank in April didn’t show up to a court date, and police found a woman dead at her home when they checked on her this week. Police in Pleasant Hill, a community of about 8,000 southeast of Kansas City, have not said whether they think […]
Dame Alison Rose stepped down from her position as NatWest’s chief executive after discussing Farage’s financial dealings with the bank on the BBC. Although it appears she may have been compelled to leave, she was allowed to resign. Additionally, Farage has demanded the complete overhaul of NatWest’s board, attributing his exclusion from their services to […]
Big U.S. banks reported earnings Friday. JPMorgan Chase’s and Wells Fargo’s profits both surged. They climbed 67 percent and 57 percent respectively. Profits got a boost from higher interest rates. The banks are watching for signs whether the economy was slowing and are concerned about losses in commercial real estate. NTD spoke with Sam Burns, […]
In the most significant bipartisan response since the banking turmoil this past spring, the Senate Bank Committee approved legislation to claw back compensation from bank executives after their financial institutions fail. The Recovering Executive Compensation from Unaccountable Practices (RECOUP) Act reins in the banking industry by imposing new fines for misconduct, restricting failed executives from […]
Sen. John Kennedy (R-La.) grills failed Silicon Valley Bank and Signature Bank executives at a Senate hearing on failing to protect their banks’ assets and managing risk in favor of handing out bonuses or performing pronoun training.
