Banks (Finance)
Britain's major lenders, including Royal Bank of Scotland, Lloyds Banking Group, Santander, HSBC, and Barclays, have unveiled a scheme to enhance transparency in lending to small businesses. Under the plan, small firms will have the right to appeal loan rejection decisions, which will be reviewed by another person
Banks (Finance)
A recent investigation by The National Mortgage Complaint Center has exposed a widespread issue in the US mortgage industry, where banks and loan servicing companies are allegedly failing to assist homeowners in need of loan modifications or mortgage workout plans. The group estimates that potentially over a million US homeowners
Banks (Finance)
The US Department of Justice recently announced the indictment of four Swiss bankers charged with helping US taxpayers use secret accounts at Credit Suisse to evade US taxes. The indictment comes on the heels of the IRS announcement of a second offshore voluntary disclosure program. The program, the "2011
Banks (Finance)
National Thermal Power Corporation (NTPC) is in talks with German government-owned bank KfW and other lenders to secure funding for its 15 MW solar thermal project in Rajasthan. The company is expected to sign a loan agreement with KfW for approximately $100 million. The project's total cost is
Banks (Finance)
Credit Suisse, a big Swiss bank, is under heightened scrutiny from the authorities in the United States after being accused of selling private banking services that enable tax evasion. The U.S. Justice Department has accused four private bankers, including Marco Parenti Adami and Emanuel Agustoni, of conspiracy and fraud
Banks (Finance)
As the Reserve Bank of India (RBI) attempts to control inflation, two major private banks, ICICI Bank and HDFC Bank, have increased their lending rates by up to 50 basis points, making home, auto, and commercial loans more expensive for consumers. ICICI Bank has hiked its base rate to 8.
Banks (Finance)
Attorney General Lisa Madigan has sent a letter to federal financial regulators, urging them to include critical mortgage servicing standards in an upcoming rulemaking process. The move aims to prevent risky home loans from being sold to investors, a leading cause of the 2008 housing market crash. Madigan's
Banks (Finance)
The Reserve Bank of India (RBI) has announced a revised limit of 5% on housing loans for state cooperative banks (StCBs) and central cooperative banks (CCBs), effective immediately. This move restricts the exposure of these banks to real estate and aims to curtail the risk associated with housing finance. The
Banks (Finance)
The ongoing controversy surrounding the 2008 allocation of second-generation (2G) licences and spectrum to five telcos has created a high-risk scenario for lenders, with many warning of potential defaults worth tens of thousands of crores. The Department of Telecommunications (DoT) has sent notices to five telcos, including STel, Swan Telecom,
Banks (Finance)
Punjab National Bank (PNB) has demonstrated a remarkable financial performance over the past three quarters, driven by higher loan book growth and margins. As the second-largest public sector bank in the country, PNB has a strong presence in the northern regions and has been aggressive in expanding its network, with
Banks (Finance)
Shawn Tidwell, a 41-year-old former loan officer from Brentwood, Tennessee, has pleaded guilty to one count of bank fraud arising from a scheme he engaged in from February 2005 to February 2008. Tidwell worked at National Bank of Commerce and later SunTrust Bank, where he prepared loan paperwork for a
Banks (Finance)
Vimpelcom Ltd, a holding company formed in April this year to combine Alfa-Group's and Telenor's Russia- and Ukraine-based cellular assets, has issued a mandate to six banks to arrange a bridge loan of $4 billion to finance its acquisition of Weather Investments, owned by Egyptian billionaire
