Financial assets compliant with sharia are growing at a much faster pace than the conventional kind, yet North American banks are still stuck on the sidelines.
The revelation in leaked bank files that HSBC’s Swiss banking arm has helped wealthy customers put millions of dollars worth of assets out of the reach of the tax authorities confirms the way in which…
If you need a reminder of how complex investing in the stock market can be, look no further than the row currently raging between Lloyds Bank and up to 100,000 investors who helped to bail it out in 2009…
In survey after survey bankers rank poorly on ethics and honesty. It’s not hard to find entire websites dedicated to bank hatred. And Bank of America consistently rates in the top 10 most hated companies…
Think whistleblowing is a matter of telling the truth? Think again. “Successful” whistleblowing, where the protagonist actually manages to make themselves heard in the media and get the support of the…
Suppose you’re in the supermarket shopping for groceries. While you’re strolling the aisle with your cart, a shadowy figure looms over your shoulder and changes the prices on the items you want to buy…
Regulators in the UK and US are fining five high street banks for attempting to manipulate foreign exchange rates. Together they have been told to pay £2 billion in compensation following a year-long investigation…
It’s clear mortgage standards have gotten too tight when even a former Federal Reserve chairman who makes as much as US$250,000 per speech cannot refinance his home. Ben Bernanke complained about his inability…
JPMorgan Chase early last month disclosed that cyber thieves pilfered account data on 76 million households and seven million small businesses over the summer, one of the biggest breaches ever and only…
The European Central Bank (ECB) has announced the results of “stress tests”, which assess whether or not banks will fail, or require a taxpayer-funded bailout, if the economy were to turn sour. 130 banks…
Has Wonga gone out of its mind? Yesterday it effectively wrote off £220m owed to the payday lend by 330,000 borrowers who were more than 30 days in arrears in paying back their debt. It might seem like…
Roger McCormick, London School of Economics and Political Science et Chris Stears, School of Advanced Study, University of London
The major international banks are being lumbered with more and higher fines as the fallout from the financial crisis continues. Our research as part of the Conduct Costs Project at the CCP Research Foundation…
When Mathew Martoma, the former portfolio manager of SAC Capital, was sentenced to nine years in prison for insider trading last week, much of the comment was about how harsh the punishment looked. It…
One of the issues currently being considered by Australia’s Financial System Inquiry is the heavy exposure of Australian banks to the residential mortgage market. The exposure to domestic mortgages, which…
The 2007-2008 banking crash ushered in an era of austerity and pay freezes, but bank executives have continued to enjoy disproportionate rewards even though their institutions have been bailed out by taxpayers…
A plan by US regulators to impose greater capital requirements on the nation’s eight biggest banks has prompted complaints it will put the banks at a global disadvantage. The proposal is that the banks…