Dive Brief: Susan Zaunbrecher, Fifth Third’s head of legal, government, and regulatory affairs, will retire, the bank said Wednesday, as it announced several other executive changes. Christian Gonzalez will join the lender as executive vice president and chief legal officer, effective July 7. Kevin Lavender, head of Fifth Third’s commercial bank, will become its vice
The United States has issued a new warning to Mexico over money laundering tied to drug trafficking. This time, the focus is on two banks— CIBanco and Intercam — and the brokerage firm Vector. They are accused of being involved for years in laundering money for criminal organizations and facilitating payments in Asia for the
Banking and tech experts gath- ered at the ENGAGE Dubai event to explore how banks can apply Artificial Intelligence (AI) to take banking to the next generation in terms of modernisation, cus-tomer experiences and inclusivity. Banks around the world are actively leveraging AI to enhance customer-facing chatbots, prevent fraud, and streamline processes like regulatory reporting
Mahindra Manulife Mutual Fund has launched the Mahindra Manulife Banking and Financial Services Fund, an open-ended equity scheme that will invest in companies operating in the banking and financial services sector. The New Fund Offer (NFO) will open on June 27 and close on July 11. The scheme will reopen for continuous sale and repurchase
The scrip opened firm and quickly gained ground, touching an intraday high of ₹1,996.90 by 10:48 am, before showing some consolidation. The bank’s market capitalisation also saw a healthy rise as investors reacted positively to recent developments. A key driver behind the stock’s rise is the initial public offering of HDB Financial Services, a non-banking
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The author is Professor of Sustainable Finance at Vlerick Business School in Brussels Sergio Ermotti, chief executive of UBS, is facing a dilemma as he considers his bank’s future in a network created to drive
In April, the government issued a decree regulating the controlled pilot mechanism in the banking sector. The move comes as fintech development trends are set to intensify. Hoang Viet Tien, deputy secretary general, Vietnam Digital Communication Association It is expected to be an important step in shaping a suitable legal framework for the development of
The FOS is an independent body with responsibility for deciding on complaints against firms that provide financial products and services. The highest amount the ombudsman can award went up this year to £445,000, a substantial increase from the £150,000 limit before April 2019. The FOS received 141,846 new complaints between July 1 and Dec. 31,
Follow us on Instagram, TikTok, and WhatsApp for the latest stories and breaking news. Malaysian banks will start imposing an 8% service tax on certain financial services starting 1 July 2025, under the new expanded sales and service tax (SST) This rollout will be carried out in phases, in accordance with official guidelines from the Royal Malaysian Customs Department,
Open this photo in gallery: The Bay Street Financial District in Toronto. The domestic stability buffer also affects the minimum capital levels that a bank is expected to hold.Nathan Denette/The Canadian Press Canada’s banking regulator has held steady the capital cushion that the country’s largest lenders must reserve, signalling that financial institutions are withstanding the