Diversified Financials Consumer Finance

  • MADRID, Oct 4- Former International Monetary Fund chief Rodrigo Rato rejected at a trial on Tuesday claims he had misused a corporate credit card during his time at lender Bankia, saying the expenses he accrued were legal and part of his salary. The so-called "black cards" case sparked widespread anger when the scandal first broke in 2014, at a time Spain was...

  • WHITE PLAINS, N.Y., Oct 3- U.S. presidential candidate Hillary Clinton on Monday will unveil a plan to make it easier for consumers to take legal action against "bad corporate actors," citing Wells Fargo& Co and Mylan Pharmaceuticals, according to a campaign official. Clinton will call on the U.S. Congress to give agencies such as the Federal Trade Commission, the...

  • WASHINGTON/ NEW YORK, Sept 29- U.S. lawmakers called on Thursday for Wells Fargo& Co chief John Stumpf to resign and a top House Democrat demanded the bank be broken up because it is too big to manage. Wells Fargo staff opened checking, savings and credit card accounts without customer say-so for years to satisfy managers' demand for new business, according to a $190...

  • WASHINGTON, Sept 29- The U.S. Supreme Court on Thursday agreed to hear a challenge to a New York state law barring retailers from imposing surcharges on customers who buy with a credit card rather than cash, a measure merchants contend violates their right to free speech. The court will hear an appeal by a group of merchants to a September 2015 ruling by the New York-...

  • Sept 29- Wells Fargo& Co is facing a U.S. Department of Justice sanction for improperly repossessing cars owned by members of the military, Bloomberg reported. Federal prosecutors and the Office of the Comptroller of the Currency plan to punish Wells Fargo for alleged violations of the Servicemembers Civil Relief Act, Bloomberg reported, citing two people with...

  • WASHINGTON, Sept 29- The U.S. Supreme Court on Thursday agreed to hear a challenge to a New York state law barring retailers from imposing surcharges on customers who make purchases with a credit card rather than cash. The court will hear an appeal filed by a group of merchants to a September 2015 ruling by the New York- based 2nd U.S. Circuit Court of Appeals that...

  • WASHINGTON, Sept 29- The U.S. Supreme Court on Thursday agreed to hear a challenge to a New York state law barring retailers from imposing surcharges on customers who make purchases with a credit card rather than cash. The court will hear an appeal filed by a group of merchants to a September 2015 ruling by the New York- based 2nd U.S. Circuit Court of Appeals that...

  • Bank consultants say tens of millions of dollars are spent each year on initiatives to build a culture of integrity, partly at the urging of regulators such as the Federal Reserve Bank of New York and the U.S. Office of the Comptroller of the Currency. Wells Fargo's debacle- involving the creation of as many as 2 million accounts without customers' permission- is...

  • Fintech O2O

    Fintech helps to make banking transactions and asset management more efficient and accessible, says Nexchange Chief Strategy Officer Andrew Economos.

  • NEW YORK, Sept 26- A federal appeals court on Monday cleared the way for American Express Co to enforce rules prohibiting merchants that accept its cards from steering customers toward lower-cost cards offered by competing issuers. The 2nd U.S. Circuit Court of Appeals in New York said a lower court judge erred in concluding that American Express' agreements...

  • NEW YORK, Sept 26- A federal appeals court on Monday cleared the way for American Express Co to enforce rules prohibiting merchants that accept its cards from steering customers toward lower-cost cards offered by competitors. The 2nd U.S. Circuit Court of Appeals in New York said a lower court judge erred in concluding that Amex's agreements with merchants...

  • MADRID, Sept 26- Crowds jeered at former International Monetary Fund chief Rodrigo Rato when he arrived at a Madrid court on Monday to face trial for his alleged misuse of company credit cards on extravagant personal expenses. Rato and 64 other executives and former board members from lender Bankia and its founding savings bank Caja Madrid are accused of...

  • Sept 25- Iran introduced credit cards for the first time on Sunday, the Iranian Students' News Agency reported. Iran is looking to bolster its oil production and economy after world powers in January lifted sanctions against the Islamic Republic in return for Tehran complying with a deal to curb its nuclear ambitions. Valiollah Seif, the head of the central bank...

  • Sept 25- Iran introduced credit cards for the first time on Sunday, the Iranian Students' News Agency reported. Iran is looking to bolster its oil production and economy after world powers in January lifted sanctions against the Islamic Republic in return for Tehran complying with a deal to curb its nuclear ambitions. Valiollah Seif, the head of the central bank...

  • NEW YORK, Sept 23- Trump International Hotels Management LLC agreed to pay $50,000 to settle with New York State over data breaches that exposed 70,000 credit card numbers and other personal information, New York Attorney General Eric Schneiderman announced on Friday. According to Schneiderman, bank analyses of hundreds of fraudulent credit card...

  • NEW YORK, Sept 23- IBM said on Friday it completed a pilot project with Chinese credit card company China UnionPay that will facilitate the sharing of loyalty bonus points among banks using block chain technology. Shen Xiaowei, director of IBM Research-China and chief technology officer of IBM Great China Group said the company also is partnering with the...

  • SCHNEIDERMAN ANNOUNCES SETTLEMENT WITH TRUMP HOTEL COLLECTION AFTER DATA BREACHES EXPOSE OVER 70 K CREDIT CARD NUMBERS.

  • NEW YORK, Sept 23- A federal judge has ordered the U.S. Commodity Futures Trading Commission to justify why a settlement with Deutsche Bank AG in a case over the bank's handling of swap reporting is fair and in the public interest. District Judge William Pauley in Manhattan said in an order on Thursday that while regulatory agencies like the CFTC should be...

  • LONDON, Sept 23- Britain's HSBC is seeking to release billions of dollars of capital tied up in the United States without upsetting the country's politicians and regulators, senior sources at the bank said. HSBC, which has been in the sights of U.S. regulators over breaching anti-money laundering rules, has more than $20 billion of capital in the United States...

  • Young Investors

    The Little Snowball Co-founder Aloysius Lee tells CNBC how he started as a young investor and why youngsters need to learn investing and financial concepts.