As part of a broad investigation into money laundering by banks, New York State banking and insurance regulator Benjamin Lawsky has issued subpoenas for records to a number of major consulting firms in recent months, a government source tells TIME.
Banking
Financial Crisis: Five Years After, 10 to Remember
After the Meltdown: 5 Years Later the Shocks Just as Powerful
Here come the polls. It’s been five years since the meltdown and a whole bunch of us feel like things aren’t getting any better.
Japan: Economy is ‘Recovering Moderately’
Japan’s central bank upgrades its assessment of the economy
6 Tips for Safer Smartphone Banking
Mobile banking presents the risk that you could have sensitive account data — and by extension, your money — stolen if you’re not careful
JPMorgan China Hiring Practices Investigation Spreads to Asia
An investigation into American investment bank JPMorgan Chase & Co.’s hiring-related nepotism in China has now expanded to other Asian countries after an “internal spreadsheet that linked appointments to specific deals …
5 Hurdles an “Occupy”-Branded Banking Product Must Clear
The news that an Occupy Wall Street-affiliated group wants to launch a prepaid debit card has generated some media chatter lately, mostly centered around whether or not an antiestablishment, anti-bank group can (or should) try to offer financial services. The more fundamental question to ask is: Can it succeed? There’s a lot of appeal to …
Intern’s Death Leads to Debate About Work Hours
Intern was found dead in his shower after pulling eight all-nighters in two weeks
Be Happy Larry Summers Sits on the Board of Lending Club
For much of the summer, Washington’s policy elite have been focused on the question of who will become the next chairman of the Federal Reserve. One of the most powerful positions in the federal government, the role of Fed chair …
Why Banks Might Refuse to Take Your Money
People are being denied bank accounts based on what’s in reports that most of us never even knew existed.
Prepaid Debit Cards: A Few Good Ones to Consider — And Several to Avoid
Competition has helped drive down fees and increase transparency on prepaid debit cards, but new studies show that some cards still deliver little value for the cost.
Gordon Gekko Lives: New Evidence That Greed Is Rampant on Wall Street
One in four bankers would cheat to make $10 million. This is one of many unsettling findings in a new survey of Wall Streeters. As always, you’re on your own out there.