Wells Fargo Denies Reimbursement to Disabled Customer After $6,805 Withdrawn From Bank Account
Wells Fargo’s Controversial Refund Policy Wells Fargo is under fire for not refunding disabled customers who have lost considerable amounts of money due to scams involving fraudsters impersonating bank employees. One notable case involves Paul Shendell, a 52-year-old man living with diabetes and physical disabilities from a back injury, who fell victim to a scam […]
Global economy at a critical juncture, says central bank group BIS
Global Economic Uncertainty Highlighted by BIS Report Recent assessments from the International Bank of Reconciliation (BIS) indicate that trade tensions and geopolitical risks are revealing significant flaws in the global financial system. Agustin Carstens, the bank’s chief, pointed out that actions such as US-led trade wars suggest a notable shift away from the established economic […]
How a Bank Conceals Tk995cr Loss by Delaying Provisions
As of December 2024, the bank’s general provision stands at TK1,447.62 crores, according to a qualified opinion from auditors. This includes TK53.81 crores set aside for unclassified loans and TK1,393.81 crores for classified loans and advances. A private sector bank, known as One Bank, reported an 11.30% profit increase in 2024, achieving an after-tax net […]
Federal Regulators Close Santa Anna National Bank; Coleman County State Bank Takes Over Deposits
Closure of Santa Anna National Bank Santa Anna National Bank, a longtime fixture in Santa Anna since 1933, was shut down on Friday by the Secretary of Currency, becoming the first Texas bank failure of 2025. The Federal Deposit Insurance Corporation (FDIC) has taken over, announcing that Coleman County State Bank, based in Coleman, Texas, […]
Coleman County State Bank in Coleman, TX, takes over the insured deposits of The Santa Anna National Bank in Santa Anna, TX.
Santa Anna National Bank Closed Washington – Santa Anna National Bank, located in Santa Anna, Texas, was shut down today. The Office of the Comptroller of the Currency (OCC) appointed the Federal Deposit Insurance Corporation (FDIC) to take over. The FDIC has entered into a purchase and assumption arrangement with Coleman County State Bank, based […]
Central Bank Takes Steps to Eliminate ‘Reputational Risk’ Rules Used by Left to Cut Off Banking Access
Federal Reserve Chairman Addresses Reputation Risks at Congressional Hearing During a Congressional hearing on Tuesday, Federal Reserve Chairman Jerome Powell emphasized the challenges faced by central banks regarding “reputation risks” and acknowledged that the concept of “snapping off” has become a significant concern. In a recent statement by the Federal Reserve Committee, it was announced […]
Palmer Luckey’s new cryptocurrency bank will be linked to a stablecoin.
Palmer Luckey Launches New Digital Bank Elebor Billionaire Palmer Luckey is diving into the financial industry with a new venture aimed at empowering technology entrepreneurs. The venture, named Elebor, marks another addition to his growing portfolio. The name Elebor appears to draw inspiration from J.R.R. Tolkien’s works. Similar to Anduril, a sword from the lore, […]
UAE Central Bank halts bank’s Islamic services for new customer onboarding for six months
For the past six months, the central bank of the UAE has halted the Islamic windows of local banks from accepting new customers and has imposed fines totaling over DH33.5 million (around $953,632) for breaching Sharia Governance Rules. On Wednesday, the bank announced that these penalties came after a review by its Sharia supervisory body, […]
Two candidates suggested for the position of governor at the Bank of Thailand
Minister of Finance Selects Successor to Sethaput Suthiwartnarueput On June 24, 2025, the Finance Minister reviewed six candidates for the role of Governor of the Bank of Thailand. Following discussions, two names were forwarded to Minister Pichai Chunhavajra for final consideration. Pichai’s decision will need to receive approval from both the Cabinet and the King, […]
Powell states that the Fed is not hurried to lower rates while Trump criticizes the central bank leader.
Federal Reserve’s Interest Rate Strategy Federal Reserve Chair Jerome Powell will inform lawmakers on Tuesday that the central bank isn’t rushing to reduce interest rates. He emphasizes the need for careful consideration regarding the economic effects of the latest tariffs imposed by President Donald Trump. This cautious stance has drawn sharp criticism from Trump, especially […]