May 29- Bank of America Corp agreed with U.S. regulators to improve its compliance practices and pay a fine for violations in lending rules toward military personnel. The Office of the Comptroller of the Currency asked the No. 2 U.S. bank by assets to pay a penalty of $30 million due to non-home loan compliance with the Servicemembers Civil Relief Act and unsafe...» Read More
There is something seriously wrong with bank regulation and litigation in the US today, says bank analyst Dick Bove.
Sallie Mae has reached a $60 million settlement with the government to resolve allegations that it overcharged military service members.
Regulations on big banks have created a vacuum into which alert entrepreneurs have established commanding positions, says bank analyst Dick Bove.
China's banking regulator has urged authorities and banks to step up an investigation into iron ore financing deals to minimize default risks.
The eight biggest U.S. banks must boost capital levels by a total of about $68 billion under new rules, U.S. regulators said on Tuesday.
John Woods, MD, Head of Fixed Income & Senior Portfolio Manager at Citi Investment Management, discusses the likelihood of India seeing economic reforms post-election.
Caterpillar is under scrutiny for its tax strategies as the Senate will be taking a closer look at its tax structures today, reports CNBC's Hampton Pearson.
Diana Choyleva, director and head of the U.K. service at Lombard Street Research, says the implementation of necessary financial sector reforms in China will be "unpleasant and very difficult" and lead to "below-trend growth."
Jeffrey LeSage, KPMG vice chairman of U.S. tax practices, discusses tax reform and the key concerns facing business leaders. The likelihood of getting any kind of tax reform from Washington is "pretty small," says Lesage.
Simon Maughan, head of research at OTAS Technologies, comments on regulators relaxing Basel debt rules.
Chi Lo, Senior Strategist, Greater China at BNP Paribas Investment Partners, says China's local debt accumulation is unsustainable.
"When I go around to my fellow CEOs, people are frightened about whether you want to invest in the United States," he said.
Hao Hong, MD of Research & Chief Strategist at Bank of Communications International, says the real test of Chinese reform is whether the government can sit tight if growth falls below 7% in 2014.
Kenneth Bentsen, President of the Securities Industry and Financial Markets Association says the U.S. budget deal is a good move towards reducing risk.
The U.S. pledged to keep any trade deal from weakening its regulations, and said it would press to match efforts to make banking and trading safer.
Jim McCaferty, Head of Regional Research at CIMB makes a case for investing in North Asian markets versus their South East Asian peers.
Erwin Sanft, MD & Head of China & HK Equity Research at Standard Chartered expects money to flow back into Chinese markets after Beijing's pro-market reform plans.
Chi Lo, Senior Strategist, Greater China, BNP Paribas Investment Partners and Frederic Neumann, MD & Co-Head of Asian Economics Research at HSBC say shadow banking and credit risks could still rise in the next few years despite China's reform plans.
Jing Ulrich, managing director at JPMorgan, says Chinese reforms should be wide-ranging and reveal the country's roadmap for the coming years and advises investing in services and consumer stocks.
Geoff Raby, Vice Chairman, Macquarie Group China also the Former Australian Ambassador to the PRC speaks about the likely reforms China's leaders may unveil at the Third Plenum.