BankThink

Receiving Wide Coverage ...

HSBC Under Fire: HSBC's Swiss unit colluded with wealthy clients including "international criminals" to help them avoid paying millions of dollars in taxes, according to what The Guardian calls "the biggest bank leak in history." The Swiss private bank routinely handed untraceable bricks of cash over to clients and conspired with clients to hide undeclared accounts from tax authorities, according to files from the period between 2005 and 2007 that were obtained...

Banco Santander's stock market value plummeted after it announced an $8.8 billion capital raise and dividend cuts in January. The experience serves as a reminder to bank directors that the interests of investors cannot remain forever on the back burner.

The Massachusetts senator wants to induce more competition and diversity in the banking industry and improve the economic prospects of a majority of Americans. Both changes would benefit the financial services sector as a whole.

Receiving Wide Coverage ...

The Swiss and Taxes: And you wonder how the Swiss banking industry got its reputation as a haven for tax evaders? The Justice Department and the Federal Bureau of Investigation are examining Swiss bank UBS for allegedly helping its American wealth-management clients avoid taxes by putting their money into investments that are banned in the U.S., the Wall Street Journal reported. This isn't the first time UBS has run afoul of U.S....

The CFPB has a historic opportunity to fix the small-dollar loan market by emulating Colorado's reforms. That would mean requiring all payday lenders to offer affordable installment payments and cracking down on deceptive practices like loan flipping.