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
  • Guaranty Bank – FDIC Closure and Whistleblower Post

    … causing many small savings and loan banks to simply fold. To understand the vital role played by bank whistleblowers, its helpful to understand two other laws. Congress created the Federal Deposit Insurance Company (FDIC) in 1933 during the Great Depression. The hope was to protect customers and encourage them to save money. Hoping to stem “runs…

    Due Diligence- 34 readers -
  • New York Loan Modifications: Restrictions & Denials

    … schedules for defaulting borrowers suffering from financial hardships. But what happens after an initial review of your loan terms by your lender reveals that you are only spending 29 percent of your monthly income on your mortgage payment? If the bank modified your loan under HAMP standards, it may result in a capitalization of arrears—but a higher…

    Ronald D. Weiss, PC- 30 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- 26 readers -
  • Intellectual Ventures Prevails In Capital One Antitrust Suit

    … based upon a previous decision in a New York federal case, which found those same two patents to be ineligible under Section 101. The patent aspects of the action were appealed, and in 2017, the Federal Circuit affirmed. Capital One’s Antitrust Counterclaims Meanwhile, the district court allowed litigation to proceed over IV’s antitrust counterclaims…

    Michael E. Mccabe Jr./ IPethics & INsights- 21 readers -
  • ING Bank Subject to Dutch, SEC Probe – Whistleblower Opportunity

    … Where there is smoke, there is often fire. We have all heard that adage and its usually true. Netherlands based ING disclosed that it is being investigated by both Dutch and American authorities. According to a recently filed SEC disclosure, “ING Bank is the subject of criminal investigations by Dutch authorities regarding various requirements…

    Due Diligence- 20 readers -
  • Whistleblower Suit Against Quicken Loans Proceeds

    … concerning a different loan, Quicken’s FHA Operations Director Jeanette Ahles wrote that she had “done all I can with this income,” further stating that she “gave a little OT [overtime],” but that it was “still not enough to qualify.” Ultimately, Quicken approved and endorsed both loans for FHA insurance. [Lyon can be seen in this YouTube video…

    Due Diligence- 19 readers -
  • The 90-Day Foreclosure Letter: Proving Service

    … the lender’s complaint under certain circumstances. If the lender failed to affirmatively plead notice under RPAPL §§ 1304 and 1306, you may move to dismiss the action at its inception. But if the lender has properly alleged such and you deny that the notice was proper, your attorney can move for summary judgment and the court must address the issue…

    Ronald D. Weiss, PC- 18 readers -
  • Can an Information Subpoena Violate the FDCPA?

    … collection communication even when those communication are directed to third parties who are themselves not the judgment debtor. For this reason, a false representation made in a judgment enforcement device like an information subpoena, could be a violation of the FDCPA regardless of to whom it is sent. Similarly, under New York law, in order to send…

    The Law Offices of Robert J Nahoum- 18 readers -
  • Stealing from the Dead – Accounting Malpractice Post

    … to his bank, Deutsche Bank. As required by law, each account was moved separately and not comingled. Once at Deutsche, however, the monies were illegally combined. The monies were then invested in several hedge funds recommended by Deutsche Bank. Cemetery trust accounts have many restrictions. As Singer was busy bringing in tens of millions…

    Due Diligence- 17 readers -
  • Order to Show Cause to Stay Foreclosure Sale in New York

    … an equitable remedy. Generally, “the court’s invocation of its equity powers to deny the remedy of foreclosure and sale or to set aside its effects is limited to cases wherein there is clear and convincing evidence of fraud, exploitive overreaching or unconscionable conduct on the part of the mortgagor or other party.” Wells Fargo Bank, N.A. v Ahr…

    Ronald D. Weiss, PC- 16 readers -
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