Karin Matussek, Nicholas Comfort and Steven Arons, Bloomberg Published 10:00 am PST, Thursday, November 29, 2018 The Deutsche Bank logo sits on the bank's headquarters in Frankfurt on July 25, 2018. The Deutsche Bank logo sits on the bank's headquarters in Frankfurt on July 25, 2018. Photo: Bloomberg Photo By Alex Kraus. Photo: Bloomberg Photo By Alex Kraus. Image 1 of / 1 Caption Close Image 1 of 1 The Deutsche Bank logo sits on the bank's headquarters in Frankfurt on July 25, 2018. The Deutsche Bank logo sits on the bank's headquarters in Frankfurt on July 25, 2018. Photo: Bloomberg Photo By Alex Kraus. Deutsche Bank raided in laundering probe going into 2018 1 / 1 Back to Gallery … [Read more...] about Deutsche Bank raided in laundering probe going into 2018
Royal bank scotland group
New U.S. Loan-Loss Rules for Banks Will Be Volatile—Just Look at Britain
0 Comments By Paul J. Davies Paul J. Davies The Wall Street Journal BiographyPaul J. Davies @PaulJDavies [email protected] Oct. 29, 2018 7:00 a.m. ET As U.S. banks battle to water down new rules on how to account for loan losses, British banks are showing how similar rules create wild swings in profits depending on executives’ economic outlooks. Royal Bank of Scotland took an extra £100 million (about $128 million) impairment charge in its third-quarter results on Friday, blaming the chaotic state of the U.K.’s Brexit talks for greater economic uncertainty. But just a day before, Lloyds Banking Group , Britain’s biggest mortgage lender, had taken no extra charges for possible future loan losses in its third quarter, while earlier in the week Barclays reported an £86 million improvement in U.K. loan-loss charges versus the third quarter last year. Impairment charges under the new rules are meant to give investors a better picture of the true … [Read more...] about New U.S. Loan-Loss Rules for Banks Will Be Volatile—Just Look at Britain
The Royal Bank of Scotland Pays Settlement for Financial Crisis-Era Misconduct
The U.S. Attorney’s Office in Massachusetts has settled with another banking giant for its role in the financial crisis. The court announced yesterday that will collect a payment of $4.9 billion from The Royal Bank of Scotland Group, resolving federal civil claims that RBS Group’s subsidiaries in the U.S. misled investors in the underwriting and issuing of residential mortgage-backed securities between 2005 and 2008. The penalty is the largest imposed by the Justice Department for financial crisis-era misconduct at a single entity under the Financial Institutions Reform, Recovery and Enforcement Act of 1989, which allows the Justice Department to seek civil penalties for violations of criminal statutes. These are allegations only, which RBS disputes and does not admit, and there has been no trial or adjudication or judicial finding of any issue of fact or law. “This resolution – the largest of its kind – holds RBS accountable for defrauding the people … [Read more...] about The Royal Bank of Scotland Pays Settlement for Financial Crisis-Era Misconduct
Ex-RBS Chief, a Symbol of British Banking Excess, Retires to Life in Scotland
A decade after the financial crisis, The Wall Street Journal has checked in on dozens of the bankers, government officials, chief executives, hedge-fund managers and others who left a mark on that period to find out what they are doing now. Today, we spotlight former Royal Bank of Scotland Chief Executive Fred Goodwin. A decade ago Sir Fred Goodwin helmed the world’s biggest bank by assets, Royal Bank of Scotland Group PLC. Today, he is no longer a banker. He is no longer knighted. And RBS has shrunk to a U.K.-focused bank... … [Read more...] about Ex-RBS Chief, a Symbol of British Banking Excess, Retires to Life in Scotland
Funding Death: Arizona Families Sue Banks for Financing Iranian Attacks on U.S. Soldiers
Part 2 revolves around who paid for those bombs. The U.S. government went after a string of prominent European banks, accusing them of conspiring to launder hundreds of billions of dollars for Iranian interests, knowing some of that money funded terrorism. The banks paid more than $4 billion in fines to U.S. regulators and admitted responsibility rather than face criminal prosecution. Based on those actions, dozens of families of killed or wounded soldiers, soldiers like Ryan Haupt and Robert Bartlett of Arizona sued those banks and the government of Iran. Those lawsuits have not reached trial yet. This is the story of how they came to be. On May 3, 2005, Sergeant Robert Bartlett of Gilbert rode inside an armored Army Humvee traveling along “Route Pluto” on Baghdad’s northern edge. He was a sniper. His Army squad headed to its third mission of the day to clear an area of threats. As the Humvee approached a security barrier along the palm-lined road, it slowed. Nobody … [Read more...] about Funding Death: Arizona Families Sue Banks for Financing Iranian Attacks on U.S. Soldiers