By Cristina Laila Mastercard, Wells Fargo, Citigroup and others launched a 12-week digital dollar pilot program with the New York Fed. Don’t worry because the New York Fed says the pilot program will only use “simulated […]
In late April, after some disturbing monthly charge-off reports from major credit card vendors, we reported that according to the latest data from the S&P/Experian Bankcard Default Index, as of March 2017, the default rate […]
by Tyler Durden It has already been an abysmal day for Germany’s biggest lender: overnight Deutsche Bank plunged to fresh all time lows on speculation whether the German government would or wouldn’t provide state aid […]
By Michael Snyder Last month, a “secret meeting” that involved more than 100 executives from some of the biggest financial institutions in the United States was held in New York City. During this “secret […]
by John Rubino As the saying goes, you can know a person by the quality of his or her enemies. This is also true of societies, where moral evolution can be traced by simply listing […]
by John Rubino Back in December there was a flurry of press around the passage of a banking bill that was 1) reportedly written by Citigroup and 2) put taxpayers on the hook for over-the-counter derivatives, […]
by John Rubino Back in 2006, when the housing bubble was entering its truly (and obviously) manic phase, mega-bank Citigroup was being pressured by Wall Street to grow faster. And rather than pushing back against what […]
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