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The Latest Breaking News on Financial Services

Jim Chalmers reveals two appointments to Reserve Bank’s new board tasked with setting interest rates

Renée Fry-McKibbin and Marnie Baker will sit on the RBA’s new board, which follows the government’s reform of the central bank

The Guardian - AU

Scams lawsuit sends a message to Australia's banks

The corporate cop has put the nation's banks on notice after filing a civil case against HSBC Australia over its alleged failure to stop $23 million in scams.

AAP

Bank Holiday today: Know banks are open or closed on Dec 14?

December 14, 2024, marks the second Saturday when banks across India will be closed. Read further on Dynamite News:

Dynamite News

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Reeves says towns risk becoming ‘banking deserts’ as she sticks to hubs target

The Chancellor insisted the Government’s target for 350 banking hubs was a ‘massive ramp-up’ of previous plans.

The Independent UK

Mumbai: RBI receives bomb threat in Russian, probe underway

The Reserve Bank of India (RBI) in Mumbai received a bomb threat email on Friday, police said. Read further on Dynamite News:

Dynamite News

The White House is cracking down on overdraft fees

The Consumer Financial Protection Bureau is capping the fees at $5 with a rule set to take effect in October 2025, if it isn't overturned by Congress or altered under a Trump administration

The Independent UK

Sir Keir Starmer ‘raised human rights’ with UAE amid efforts to free UK prisoner

Ryan Cornelius was originally detained in the UAE for 10 years as part of a bank fraud case, but his detention was extended by 20 years.

The Independent UK

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CBI arrests Indian bank panel advocate in Kolhapur for accepting Rs 1.70 Lakh bribe

The advocate had initially demanded a bribe of Rs2.5 lakh, which was later negotiated down to Rs1.70 lakh, in exchange for deferring the possession of a mortgaged property under the SARFAESI Act. Read further on Dynamite News:

Dynamite News

Cash Crunch Fuels Rising Misgivings Against Nigeria's Money Agents

Mobile money agents have become a familiar sight across Nigeria, using handy point-of-sale machines to provide essential services to millions of people without access to banking, particularly in hard-to-reach rural areas.

International Business Times

At first glance, Australia’s new treaty with Nauru seems to be a win-win. But questions remain

At first blush, today’s announcement that Australia and Nauru have signed a security treaty offers something for both countries. Australia increases its influence in a region in which it feels threatened by China. Nauru receives economic assistance and reliable banking services.

The Conversation

China locked out of Nauru security in Australian pact

Australia needs to agree to Nauru entering a security or banking agreement with a third country after signing a treaty to prop up the Pacific nation's budget.

AAP

Japanese Bank Officials Volunteer 30% Pay Cut For 3 Months After Ex-Worker Steals Money and Burns Client's Home

The leadership of Japanese bank Nomura has agreed to take a temporary pay cut in order to atone for the actions of an employee who has been charged with attempting to murder and rob clients.

International Business Times UK

World Bank Announces Record $100 Bn Support For World's Poorest Countries

The World Bank announced Thursday that it has raised close to $24 billion to provide loans and grants for some of the world's poorest nations, which it can leverage to generate a record $100 billion in total spending power.

International Business Times

Calls for leniency over 'inept' attempts to fleece bank

A group's attempts to defraud a major bank out of more than $20 million have been described as rudimentary and doomed to fail.

AAP

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Benzinga

Breaking Down M&T Bank: 15 Analysts Share Their Views

During the last three months, 15 analysts shared their evaluations of MT Bank (NYSE:MTB), revealing diverse outlooks from bullish to bearish.

International Business Times

Huge Vietnam Fraud Case Raises Questions Over Banking System

A multi-billion-dollar fraud scandal involving one of Vietnam's most prominent tycoons exposed systemic weaknesses in the country's banking sector, say analysts who warn other such cases could yet emerge.

The Guardian - UK

Sir Kit McMahon obituary

Deputy governor of the Bank of England who helped to rescue the Midland Bank from collapse in the late 1980s

Benzinga

Analyst Expectations For Bank of America's Future

Across the recent three months, 14 analysts have shared their insights on Bank of America (NYSE:BAC), expressing a variety of opinions spanning from bullish to bearish.

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Benzinga

Navigating 14 Analyst Ratings For Bank of New York Mellon

Analysts' ratings for Bank of New York Mellon (NYSE:BK) over the last quarter vary from bullish to bearish, as provided by 14 analysts.

AAP

Economy yet to shake malaise as growth misses forecasts

The Australian economy is growing slowly with government support, with energy rebates effectively transferring household spending to the public purse.

The Independent UK

NatWest could be back in private hands by mid-2025, chief says

Paul Thwaite said it would be ‘a great moment and really symbolic’ both for the group and for the wider industry.

Benzinga

Breaking Down Columbia Banking System: 12 Analysts Share Their Views

Providing a diverse range of perspectives from bullish to bearish, 12 analysts have published ratings on Columbia Banking System (NASDAQ:COLB) in the last three months.

The Guardian - UK

Japan’s Nomura bank boss takes 30% voluntary pay cut after worker tries to kill customer

Wealth management employee charged with robbery, attempted murder and arson after home visit to elderly clients

The Guardian - UK

NatWest on fast trajectory back to private ownership, boss says

Paul Thwaite says government’s exit from its stake in bank could come in first half of 2025 and will be a ‘great moment’

The Guardian - AU

Commonwealth Bank $3 cash withdrawal fee ‘a kick in the guts’, assistant treasurer says

Company unable to quantify how many customers affected by having their account changed to a ‘smart access’ transaction account

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