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Big BofA fine is government extortion: Kovacevich

Money On Hook

The $16.65 billion settlement by Bank of America over financial crisis-era mortgage securities highlights a pattern of the government extorting the banks, said Dick Kovacevich, former Wells Fargo chairman and CEO.

Pressure rises for Standard Chartered board

Standard Chartered Shanghai Towers

A $300m fine on Standard Chartered for lapses in anti-money laundering controls has piled pressure on the bank's board, coming after a series of transgressions and a drop in earnings that had prompted calls for change at the top.

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HSBC branch

HSBC will probably spend less on compliance

HSBC Chairman Douglas Flint said the cost of policing potential wrongdoing will probably decrease after Europe’s largest bank by market value spent billions of dollars to toughen its internal controls in the wake of a series of scandals.

Dog Detective

UBS steps up vetting of employees

UBS has said it had expanded the number of employees that are subject to internal background checks to around 15 percent of its workforce in a move than came in the wake of numerous scandals.

Foot In Mouth

New York tops billionaire birth list

More billionaires have been born in New York City than in any other city in the world, according new research by U.K.-based luxury magazine Spear's and research company WealthInsight.

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Foot In Mouth

New York tops billionaire birth list

More billionaires have been born in New York City than in any other city in the world, according new research by U.K.-based luxury magazine Spear's and research company WealthInsight.