Category Archives: Banking and Financial News

“Control Person” Claims on Rise as FINRA Membership Declines

In 2005, there were more than 5,100 broker / dealers registered with FINRA.  By the end of 2010, there were less than 4,700 broker / dealers registered with FINRA.  Since 2010, that number has declined even more with some well-known … Continue reading

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The Impact of the JOBS Act

In January 2011, President Obama unveiled the Startup America Initiative which included the Jump-Start Our Business Startups (“JOBS”) Act. The JOBS Act was designed to help raise capital for small and new businesses in today’s rough economic times. Yet, certain … Continue reading

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Are student loans similar to subprime mortgages?

The newly-created Consumer Financial Protection Bureau (CFPB) is making more news this week, but not because of any regulatory fines or punitive actions.  This time, the CFPB is advocating that borrowers who took out private student loans should be able … Continue reading

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Is JP Morgan Chase & Co. too big and too lax?

JP Morgan Chase & Co. recently announced that its loss on bad credit derivative bets has grown from the ‘small’ sum of $2 billion to the much larger sum of at least $5.8 billion.  The banking conglomerate’s stunning loss has … Continue reading

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U.S Bank caught up in foreclosed home disrepair dilemma

The city of Los Angeles is suing Minneapolis-based U.S. Bank, accusing a U.S. Bank subsidiary of failing to maintain hundreds of foreclosed homes which have fallen into disrepair and tarnished community property values along the way.  U.S. Bank allegedly holds … Continue reading

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Interbank Rates and Compliance

Various U.K. and European Union regulators recently stated that they were vigorously investigating allegations of price fixing of two critical interbank interest rates.  Some European politicians were calling for criminal prosecutions because of the rate-rigging. The rate at issue is … Continue reading

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Sweeping Changes Looming for Investment Services Industry

On July 21, 2010,  President Obama signed the financial overhaul and reform bill, known as the  “Dodd-Frank Wall Street Reform and Consumer Protection Act,” into law.    Not since the Great Depression has a piece  of legislation contained such sweeping changes … Continue reading

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