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Klarna: The £1bn High Street giant you might not know - BBC News
Klarna is a Swedish bank taking the High Street by storm. But critics say it could cause problem debt.
yesterday by tonys
Chinese Banks: We’ll Never Grow Up, Not Us - WSJ

State media walked back the tough talk Monday, declaring this won’t be a “hard” target. But the sharp market reaction shows how difficult it will be to push banks to adjust their ways—even though channeling more credit to China’s private sector, where returns on capital are much higher than those of lumbering state-owned enterprises, or SOEs, is crucial to reviving Chinese growth.
china  banks  industry 
5 days ago by jayyy
Eight Days
"Geithner told me, 'It seems unjust. But look what happened to the global economy after Lehman failed. Unemployment in the U.S. went to 9.5 per cent. It’s not Wall Street that suffers when you "teach people a lesson." The tragedy of financial populism is that you do terrible things to innocent people.' Barney Frank used the analogy of de-Baathification, pointing out that U.S. efforts to purge Iraq of supporters of Saddam Hussein were a disaster. 'You can’t go out and shoot the bankers,' he said. 'You can’t have an economy without a functioning credit system. People are angry. They’re furious. But you have no option but to live with these people.'"
a:James-B-Stewart  p:The-New-Yorker★★  d:2009.09.21  w:19500  finance  regulation  disaster  Great-Recession  George-W-Bush  banks  UK  from instapaper
5 days ago by bankbryan
The real Goldfinger: the London banker who broke the world
"All this is hard to imagine for anyone who has only experienced the world since the 1980s, because the system now is so different. Money flows ceaselessly between countries, nosing out investment opportunities in China, Brazil, Russia or wherever. If a currency is overvalued, investors sense the weakness and gang up on it like sharks around a sickly whale. In times of global crisis, the money retreats into the safety of gold or US government bonds. In boom times, it pumps up share prices elsewhere in its restless quest for a good return. These waves of liquid capital have such power that they can wash away all but the strongest governments. The prolonged speculative attacks on the euro, the rouble or the pound, which have been such a feature of the past few decades, would have been impossible under the Bretton Woods system, which was specifically designed to stop them happening."
a:Oliver-Bullough  p:The-Guardian★★  d:2018.09.07  w:4500  banks  taxes  regulation  UK  London  money  from twitter
6 days ago by bankbryan
Newly Unsealed Documents Show Top FDIC Officials Running Operation Choke Point
"For those unfamiliar, Choke Point consisted of bureaucrats in several independent federal agencies taking it upon themselves to shut legal businesses – such as payday lenders and firearms dealers – out of the banking system. Given the nature of the U.S. regulatory framework, this operation was easy to pull off.

Officials at the Federal Deposit Insurance Corporation (FDIC), for instance, simply had to inform the banks they were overseeing that the government considered certain types of their customers “high risk.” The mere implication of a threat was enough to pressure banks into closing accounts, because no U.S. bank wants anything to do with extra audits or investigations from their regulator, much less additional operating restrictions or civil and criminal charges."
USA  political  abuse  against  FDIC  banks  awareness 
8 days ago by dandv
LILLEY UNCENSORED: Big Brother Liberal government wants your private banking info | Toronto Sun
It sounds like a conspiracy theory, something Justin Trudeau’s most unhinged critics would dream up.And yet it is true.Not only is it true but on Monday, Trudeau gave a full defence of an idea most would consider crazy.
privacy  banks  canada 
19 days ago by pankkake
Rogoff: Banks 'don't even have a plan A' for another financial crisis
Banks 'don't even have a plan A' for another financial crisis, Rogoff says
Banks  'don't  even  have  a  plan  A'  for  another  financial  crisis  Rogoff  says  2018 
22 days ago by kilroy2
Banks closures: 13 million people have lost half of local branches - BBC News
Figures from the Office for National Statistics (ONS) show nearly 6,000 local branches have shut since 2010, a fall of a third.
banks  dj  davidrhodes  highstreet 
23 days ago by paulbradshaw
Regulator Lays Out Rules for Bank Subsidiaries to Invest Client Funds in Stocks - Caixin Global

Banks have also been reluctant to set up these subsidiaries. Of the 27 commercial banks in China with the proper qualifications, only 14 have announced they will set up wealth management subsidiaries. Of the country’s five largest banks, only one — Bank of Communications — has done so.
The big banks are concerned that their control over capital and influence might be weakened if they spin off their wealth management business to a subsidiary, said one director of a bank’s asset management department.
china  banks 
25 days ago by jayyy

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