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Banking Business Review

US labor department considers denial of relief exemption to big foreign banks over Libor rigging The US Labor department is considering denying the requests for regulatory relief to three big foreign banks, including units of Deutsche Bank, UBS and the Royal Bank of Scotland (RBS) that pleaded guilty to manipulating London Interbank Offered Rate (Libor) interest rates. Banking Services > Commercial Banking > News
PayAnywhere offers new mobile credit card reader ready for Apple pay North American Bancard (NAB) is set to will introduce the newest version of its PayAnywhere Mobile credit card reader, available exclusively in Apple Stores nationwide and www.apple.com in September.
Banking Services > Cards > News Siemens selects Deutsche Bank for receivables on behalf of in China Deutsche Bank has implemented a Receivables on Behalf Of (ROBO) solution for Siemens Financial Services (SFS) in China, for both intra-group and third party cross-border receivables.
Banking Services > Commercial Banking > News US labor department considers denial of relief exemption to big foreign banks over Libor rigging By BBR Staff Writer
The US Labor department is considering denying the requests for regulatory relief to three big foreign banks, including units of Deutsche Bank, UBS and the Royal Bank of Scotland (RBS) that pleaded guilty to manipulating London Interbank Offered Rate (Libor) interest rates.
Banking Services > Commercial Banking > News
Wells Fargo to open new commercial banking office in New Jersey By BBR Staff Writer
Wells Fargo is opening its new commercial banking hub for the central part of the state in the Metro Park area in New Jersey.
Banking Services > Commercial Banking > News Luxembourg’s banks select Worldline’s ACS solution The Luxembourg banking community has selected Worldline to provide its access control server solution for 3D-Secure, in cooperation with LuxTrust, a certification authority.
Banking Services > Commercial Banking > News Liberty Bank selects Accenture for advanced loan origination technology Liberty Bank has selected Accenture's mortgage origination software in order to simplify its processes, improve efficiency, and enhance its compliance capabilities.
Technology > Banking Technology > News

Latest News and Insight by Sector

Banking Services

PayAnywhere offers new mobile credit card reader ready for Apple pay
North American Bancard (NAB) is set to will introduce the newest version of its PayAnywhere Mobile credit card reader, available exclusively in Apple Stores nationwide and www.apple.com in September.
Banking Services > Cards > News
Siemens selects Deutsche Bank for receivables on behalf of in China
Deutsche Bank has implemented a Receivables on Behalf Of (ROBO) solution for Siemens Financial Services (SFS) in China, for both intra-group and third party cross-border receivables.
Banking Services > Commercial Banking > News

Wealth & Assets Management

Belpre Savings Bank to affiliate with First Mutual Holding and First Federal Lakewood
Belpre Savings Bank in southeastern Ohio is set to become an affiliate bank of First Mutual Holding (FMHC), pending approval of regulatory agencies and Belpre's depositors and borrowers.
Wealth & Assets Management > Mutual Funds > News
Citigroup affiliates to pay $180m to settle hedge fund fraud charges
The Securities and Exchange Commission has announced that two Citigroup affiliates have agreed to pay nearly $180m to settle charges that they defrauded investors in two hedge funds by claiming they were safe, low-risk, and suitable for traditional bond investors
Wealth & Assets Management > Mutual Funds > News

Intermediaries

US banking regulator to revive mortgage bond lawsuits
By BBR Staff Writer
The US Federal Deposit Insurance Corporation (FDIC) has received permission of the 5th US Circuit Court of Appeals in New Orleans to sue Deutsche Bank, Goldman Sachs Group and Royal Bank of Scotland Group for selling $840m in mortgage bonds to a failed Texas bank by making false statements ahead of the 2008 financial crisis.
Intermediaries > ECN & Exchanges > News
Six global banks probed for forex rigging in South Korea
By BBR Staff Writer
South Korea’s Fair Trade Commission (FTC) is investigating the alleged involvement of six global banks in foreign-exchange market rigging.
Intermediaries > ECN & Exchanges > News

Technology

Liberty Bank selects Accenture for advanced loan origination technology
Liberty Bank has selected Accenture's mortgage origination software in order to simplify its processes, improve efficiency, and enhance its compliance capabilities.
Technology > Banking Technology > News
Enterprise Bank & Trust selects nCino's bank operating system
Enterprise Bank & Trust, the banking subsidiary of Enterprise Financial Services has selected nCino's bank operating system to create efficiency around its loan production and performance.
Technology > Banking Technology > News

Policies & Regulatory Compliance

Citigroup affiliates to pay $180m to settle hedge fund fraud charges
The Securities and Exchange Commission has announced that two Citigroup affiliates have agreed to pay nearly $180m to settle charges that they defrauded investors in two hedge funds by claiming they were safe, low-risk, and suitable for traditional bond investors
Wealth & Assets Management > Mutual Funds > News
Bank of England likely to introduce stricter stress tests for UK financial sector
By BBR Staff Writer
The Bank of England (BoE) might implement stress tests of different severity to test the effectiveness of financial systems during changing financial situations.
Banking Services > Commercial Banking > News

Risk Management

ECB sets four-year deadline to review internal risk models of banks
By BBR Staff Writer
The European Central Bank (ECB) has set a four-year deadline for preparing an ‘intrusive’ review that could force some of Eurozone’s biggest banks to increase their capital.
Banking Services > Commercial Banking > News
New Federal Reserve rules require key US banks to hold additional capital
By BBR Staff Writer
The Federal Reserve System has approved a new rule which requires eight key banks in the US to hold additional capital buffers in a bid to avoid a major financial collapse.
Risk Management > News