Edmond de Rothschild fined for alleged involvement in 1MDB scandal

The Luxembourg Financial Sector Supervisory Commission (CSSF) has ordered the private bank Edmond de Rothschild to pay a fine of almost €9 million as part of its alleged involvement in the Malaysian 1MDB misappropriation scandal. "The CSSF communicated the conclusion of the administrative procedure to Edmond de Rothschild (Europe) on 21 June," the private bank [...]

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Britain’s biggest banks have paid their bosses more than £177m in the decade since the financial crisis

Britain's biggest banks have paid their bosses more than £177million in the decade since the financial crisis. Chief executives at Barclays, HSBC, Royal Bank of Scotland and Lloyds have pocketed vast sums while millions of families have struggled in the aftermath of the Great Recession. The bank chiefs have shrugged off money laundering and mis-selling [...]

Wells Fargo Forced Unwanted Auto Insurance on Borrowers

More than 800,000 people who took out car loans from Wells Fargo were charged for auto insurance they did not need, and some of them are still paying for it, according to an internal report prepared for the bank’s executives. The expense of the unneeded insurance, which covered collision damage, pushed roughly 274,000 Wells Fargo [...]