Congress Financial Reform

  • ABUJA, Sept 21- Nigeria's central bank has revoked Skye Bank's operating licence and a bridge bank called Polaris has been created to take over the lender's assets, the financial regulator said on Friday. Isaac Okorafor, a central bank spokesman, said state-run bad bank the Asset Management Corporation of Nigeria had injected 786 billion naira into Polaris.

  • ABUJA, Sept 21- Nigeria's central bank has revoked Skye Bank's operating license and a bridge bank called Polaris has been created to take over the lender's assets, the financial regulator said on Friday. Isaac Okorafor, a central bank spokesman, said state-run bad bank the Asset Management Corporation of Nigeria had injected 786 billion naira into Polaris.

  • ABUJA, Sept 21- Nigeria's central bank has revoked Skye Bank's operating license and a bridge bank called Polaris has been created to take over the lender's assets, a spokesman for the financial regulator said on Friday. Central bank spokesman Isaac Okorafor said state-run bad bank the Asset Management Corporation of Nigeria had injected 786 billion naira...

  • ABUJA, Sept 21- Nigeria's central bank has revoked Skye Bank's operating licence and a bridge bank called Polaris has been created to take over the lender's assets, a spokesman for the financial regulator said on Friday. Central bank spokesman Isaac Okorafor said state-run bad bank the Asset Management Corporation of Nigeria had injected 786 billion naira...

  • ABUJA, Sept 21- Nigeria's central bank has withdrawn the operating license from Skye Bank and a bridge bank called Polaris has been created to take over the lender's assets, a spokesman for the financial regulator said on Friday. Isaac Okorafor said the state-run bad bank, the Asset Management Corporation of Nigeria, had injected 786 billion naira into Polaris.

  • Sept 20- Wells Fargo& Co said on Thursday it would reduce its headcount by about 5 percent to 10 percent within the next three years. Wells Fargo, smarting from a prolonged sales scandal in its retail banking business, has been a subject of a number of regulatory probes. "We are addressing past issues, enhancing our focus on customers, strengthening risk management...

  • NEW YORK, Sept 19- Coinbase has hired finance executive Brian Brooks as chief legal officer, it said on Wednesday, as the cryptocurrency exchange grows its compliance and government affairs capabilities amid intensifying regulatory scrutiny of the nascent market. In that role he led the company's legal department and government relations group, and was a...

  • WASHINGTON, Sept 18- Three U.S. banking regulators on Tuesday announced a 60- day open comment period on rules that define the acquisition and development of high volatility commercial real estate, according to a joint statement. The Federal Reserve, with the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation, intends to...

  • NEW YORK, Sept 14- New York state's top banking regulator on Friday sued the federal government to void its decision to award national bank charters to online lenders and payment companies, saying it was unconstitutional and put vulnerable consumers at risk. Maria Vullo, superintendent of New York's Department of Financial Services, called the July 31...

  • SYDNEY, Sept 14- Australia's corporate watchdog sued Australia and New Zealand Banking Group Ltd on Friday over a troubled A $2.5 billion share placement, flexing its muscle amid criticism levied at regulators for being soft on finance firms. The move means Australia's third-largest bank now faces two lawsuits over the 2015 capital raising.

  • LONDON, Sept 12- Tesla Inc's biggest institutional investor said on Wednesday it was questioned by U.S. securities regulators about Elon Musk's now-abandoned plans to take the electric carmaker private and that the chief executive needed help running the company. SEC officials also could not immediately be reached. On the evening of Aug. 24, a Friday, Musk, by...

  • LONDON, Sept 12- Tesla Inc's biggest institutional investor said on Wednesday it had spoken to U.S. securities regulators about Elon Musk's plans to take the electric carmaker private and that the chief executive needs help running the company. While Tesla was wrestling to ramp up production of its mass-market electric Model 3 sedan, on Aug. 7 Musk tweeted that...

  • Questions remain over whether the global banking system is that much stronger now than it was before the financial crisis.

  • Sept 6- The U.S. Justice Department is probing whether employees committed fraud in Wells Fargo& Co's wholesale banking unit, following revelations that employees improperly altered customer information, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Wells Fargo, smarting from a prolonged sales scandal in its retail...

  • WASHINGTON, Sept 4- U.S. regulators said on Tuesday they will giving the public an extra 30 days to comment on a proposed rewrite of the "Volcker Rule" banning proprietary trading by banks. The five regulators charged with enforcing the rule will now accept comments until Oct. 17. The Federal Reserve, Federal Deposit Insurance Corporation, Securities and Exchange...

  • WASHINGTON, Aug 30- The Federal Reserve said on Thursday that it was giving Deutsche Bank AG and four other financial institutions an additional year to submit "living wills" detailing how they could be safely dissolved in a crisis. The Fed, along with the Federal Deposit Insurance Corp, said Deutsche, Barclays PLC, Credit Suisse Group AG and UBS AG would now be...

  • WASHINGTON, Aug 30- The Federal Reserve said on Thursday that it was giving Deutsche Bank AG and four other financial institutions an additional year to submit "living wills" detailing how they could be safely dissolved in a crisis. The Fed, along with the Federal Deposit Insurance Corporation, said Deutsche, Barclays PLC, Credit Suisse Group AG and UBS AG would now...

  • HONG KONG, Aug 30- At least a dozen banks, fintechs and telecom firms are lining up to get a piece of Hong Kong's retail and small business banking market as the regulator prepares to award the former British colony's first online-only banking licences. StanChart has announced it will be applying, as have the Hong Kong telecoms operator HKT Trust and HKT, and...

  • ABUJA, Aug 29- Nigeria's central bank has ordered four banks to refund $8.134 billion that South African telecoms giant MTN Group Ltd illegally sent out of the country in breach of foreign exchange regulations, the central bank said on Wednesday. Last November, Nigeria's Senate approved a report largely exonerating MTN, following an investigation after the...

  • ABUJA, Aug 29- Nigeria's central bank has fined four Nigerian banks for their part in helping South African telecoms giant MTN Group Ltd illegally send $8.134 billion out of the country, in breach of foreign exchange regulations, it said on Wednesday. The Central Bank of Nigeria has also ordered the banks to refund the money MTN transferred, it said on its official...