And the government of Prime Minister Mark Carney did not table a spring budget, which it normally would use to outline its legislative priorities. Natacha Boudrias, leader of the National Bank of Canada’s open banking strategy, said the industry lacks “clarity” on the future shape of consumer-driven banking. She said the spring election likely stalled
A Nebraska-based investment advisor faces up to 30 years in prison after admitting he’s behind an attempted $45.65 million fraud against financial institutions. Jesse Hill, 35, has pleaded guilty to conspiracy to commit bank fraud and will be sentenced in September, according to the U.S. Attorney’s Office for the District of Nebraska. Hill and an
In the pre-2008 lending boom, American banks sold their dodgiest “subprime” loans to investors around the world. When the U.S. housing bubble burst and borrowers defaulted en masse, a global financial crisis ensued. Brussels now wants to loosen the rules governing the practice, meaning banks would need to put aside less capital against the loans
When it comes to paying for large expenses like a costly home repair or a funeral, it can be tough to come up with all the money you’ll need to cover the bill — especially if your emergency fund can only get you so far. That’s where personal loans can come in. The money you
The higher your credit score, the better your chances are to get approved for financial products — like personal loans — with a lower interest rate. Still, there are personal loans you can get if you have a fair or bad credit score. Some lenders cater to applicants with lower credit scores in the poor
BANGKOK: A significant banking disruption is set to affect millions across Thailand as three of the nation’s largest financial institutions – Krungthai Bank, the Government Savings Bank (GSB), and Siam Commercial Bank (SCB) – announce widespread system maintenance over the coming days. The planned outages will render core banking services, including mobile applications, credit card
Ken Moelis, who got his start at a Michael Milken-run firm and later clinched mega deals at his own $4.6 billion boutique bank, plans to step down as chief executive of Moelis & Co. this year, the firm said Monday. Moelis, 66, will take on the role of executive chairman on Oct. 1, according to
Based on feedback from the industry and the government’s department of financial services, the final norms are easier than the previously proposed draft norms. They include a higher loan-to-value (LTV) ratio for small-ticket loans and don’t require credit appraisal for such loans. The deadline to implement these guidelines has also been extended to April 2026.
Accordingly, a proposal is being prepared by the Department of Financial Services (DFS) and the Department of Posts (DoP) to provide banking services within a 3-km radius for all citizens, with India Post’s extensive network of over 150,000 rural post offices expected to play a central role, two people directly involved in the process told
Fintechs believe the provisioning variance is due to the differentiated interpretation of Ind-AS accounting standards, which allow for a ‘risk mitigant’ like Default Loss Guarantee to be considered while calculating the expected credit loss (ECL) provisions. Unified Fintech Forum and self-regulatory organisation Fintech Association for Consumer Empowerment (FACE), in their representiations to the Reserve Bank