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Showing posts with label US Financial Industry. Show all posts
Showing posts with label US Financial Industry. Show all posts

10/4/16

USA Banks: 2016 survey shows Bank of America is considered the worst bank in the US financial system

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It is the worst U.S. bank out of the 50,  included in a recent analysis. It ranked 44th in number of consumer complaints, 48th in regulatory penalties and and 34th in responsiveness to consumer issues.

Read more: 2016 Analysis of Regulatory Violations & Consumer Complaints - ValuePenguin

9/15/12

The comeback of Occupy Wall Street - by Joanna Slater

 It’s a balmy September evening in Zuccotti Park in Lower Manhattan. I’m standing near a tall fellow I know only as Mike from Ohio. Our left elbows are touching (in a getting-to-know-you game). We’re asked what our favourite sign was from last year’s Occupy Wall Street protests-slash-encampment. “If money is speech, then debt is censorship,” says Mike, smiling.

The group of about 40 people has gathered to practise tactics for an upcoming demonstration. Early Monday, some of them plan to don corporate camouflage – suits, dresses – and, together with hundreds of other protesters, move as close as they can to the New York Stock Exchange. There they will sit until the police tell them to leave, or they are forcibly removed or arrested.

If you thought Occupy Wall Street had disappeared, think again. After months of internal wrangling and low morale, the campaign is staging a return to the spotlight. Sept. 17 is the first anniversary of the movement that took over a slice of downtown Manhattan for two months, spawned offshoots in cities from Toronto to Hong Kong, and coined its own slogan to direct attention to inequality: “We are the 99 per cent.

Read More: The comeback of Occupy Wall Street - The Globe and Mail

7/13/12

US Banking Industry: JPMorgan trading loss nearly triples to $5.8B US

JPMorgan Chase, the largest bank in the United States, said today that a trading blunder had cost the bank $5.8 billion since the beginning of the year — nearly triple its original estimate.

The company also raised the prospect that traders had attempted to conceal the trading loss. "This has shaken our company to the core," CEO Jamie Dimon told analysts.

The bank said all managers in the London office responsible for the trade had been dismissed without severance pay and that it planned to revoke two years' worth of pay from each of those executives.

For more: Business - CBC News