A bank is a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank links together customers that have capital deficits and customers with capital surpluses.Due to their importance in the financial system and influence on national economies, banks are highly regulated in most countries. Most nations have institutionalised a system known as fractional reserve banking, in which banks hold only a small reserve of the funds deposited and lend out the rest for profit[citation needed].
Posts about Bank
  • Wells Fargo Hits a New Low (Bank Whistleblower Post)

    … the permission of their customers was over the top, wait to you read their newest shameful behavior. But first, let’s look at some of their other recent low points. November 2009 Wells Fargo agrees to buy back $1.9 billion in securities after being accused by the California Attorney General of defrauding investors. March 2010 The bank agreed…

    Due Diligence- 36 readers -
  • Think Glink

    … thousands of bad loans and leaving the Office of Housing and Urban Development (HUD) on the hook for $834 million in failed mortgages during the recent housing crisis. Under the False Claims Act, that penalty is subject to mandatory tripling – for a total of $270 million. This is only the second case against lenders related to the housing crisis…

    Due Diligence- 35 readers -
  • Guaranty Bank – FDIC Closure and Whistleblower Post

    … levels continuing to be low, we actually had positive net income in eight out of the last 11 months, and we’re projecting to be profitable this fiscal year. So we keep executing on our plan, but we continue to be under a regulatory order.” Bank presidents are good at spinning yarns and tall tales. Just a few months ago we watched former Wells Fargo…

    Due Diligence- 34 readers -
  • PNC Pays Mortgage Loan Officers $16M – Overtime Lawsuit

    … working long hours. Hours that exceeded 40 per week. In some instances, loan officers worked so many hours that at $24,000 salary, they didn’t even make minimum wage! PNC settled the case for $16,000,000 and was not required to admit liability. The settlement order says, “PNC denies all of the allegations made by the Plaintiffs…

    Due Diligence- 28 readers -
  • Hackers Hijack Banrisul Bank? Cyberhacking Post

    … Occasionally we report on cybersecurity and cyberhacking incidents involving banks and defense contractors. Because we represent whistleblowers and help them get cash awards, reporting these stories is a way to reach those with information. Although some of the stories we have reported have involved millions of dollars of lost funds, none has…

    Due Diligence- 25 readers -
  • Wells Fargo, PNC Hit with Huge Fines for Cybersecurity Lapses

    … Wells Fargo, PNC Hit with Huge Fines for Cybersecurity Lapses December 23, 2016 by Brian Mahany The Financial Industry Regulatory Authority (FINRA) fined several financial services firms a total of $14.4 million for failure to properly safeguard customer records. Fourteen securities dealers received fines including the brokerage arms of two…

    Due Diligence- 23 readers -
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