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Tag Archives: Banking

RBS to pay $5.5 billion in FHFA mortgage-bond settlement

Royal Bank of Scotland Group agreed to pay $5.5 billion to settle the second of three major U.S. mortgage-backed securities probes the government-owned lender must overcome before it can fully return to the private sector. The accord between the British ...

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Banks fined more than $5B

WASHINGTON — Four global banks agreed Wednesday to pay more than $5 billion in penalties and plead guilty to rigging the world’s currency market, the first time in more than two decades that major players in the financial industry have ...

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Study: Banking industry culture fosters cheating

WASHINGTON — The banking industry seems to bring out dishonesty in people, a new study suggests. A team of Swiss economists tested the honesty of bank employees in a lab game that would pay off in cash if they cheated. ...

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DeMarco’s snub of mortgage reductions has bankers smiling

Fannie Mae and Freddie Mac won’t be taking part in the Obama administration’s home mortgage principal reduction program. That’s bad news for underwater homeowners but cause for rounds of high-fives among executives in the nation’s financial sector. The setback for ...

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Banker says economic expansion has arrived

A bright economic outlook for 2012 is being painted by a local banker who says “We have arrived.” Gregory MacKay, senior vice president and chief economist at Canandaigua National Bank & Trust, Thursday presented a preview of what the economic ...

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Banks offer cash transfers to cell number, email

Three of the nation's four largest banks are launching a system that lets customers transfer money from their checking accounts using only a mobile number or e-mail address.

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Banking: Lawyers’ Fund for Client Protection of the State of New York v. JP Morgan Chase Bank N.A.

Appellate Division, Third Department Banking Fiduciary Duty — Subrogation Lawyers’ Fund for Client Protection of the State of New York v. JP Morgan Chase Bank N.A. 510339 Appealed from Supreme Court, Albany County Background: The plaintiff has the statutory purpose ...

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First Niagara Bank exec joins Ontario County board

Geneva resident Kelly Mittiga, senior vice president of retail banking at First Niagara Bank, has been appointed to the Ontario County Industrial Development Agency’s board of directors for a six-year term. Mittiga oversees retail programs across the bank’s 255 branches.

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Banking: United States v. Goods

U.S. District Court, WDNY   Banking Consent Judgment — Fraud United States v. Goods 10-CV-576 Judge Skretny Background: According to the stipulation in this case, Goods is a settlement attorney who handled real estate refinance closings on behalf of financial ...

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