Benjamin M. Lawsky, Superintendent of Financial Services, announced an order today regarding Standard Chartered Bank’s (“SCB”) failures to remediate anti-money laundering compliance problems as required in the Bank’s 2012 settlement with the New York State Department of Financial Services (NYDFS). Under the order, SCB will suspend dollar clearing through its New York Branch for high-risk […]
WASHINGTON, August 8, 2014 – The World Bank Group and the African Union Commission (AUC) today signed an International Development Association (IDA*) grant of US$25 million to support capacity development of the AUC and other African Union organs. The funding for the Support for Capacity Development of the AUC and other African Union Organs Project […]
NEWARK, N.J., August 13, 2014 – Despite the sentiment that we have entered a digitally dominant age, traditional benefits communication vehicles have not yet become obsolete. Employers report they are taking a multichannel approach to meet the needs and preferences of their employees according to Delivering the Benefits Message, the fifth in a series of […]
NEW YORK– American International Group, Inc. (NYSE:AIG) today announced that it has agreed to acquire Ageas Protect Limited from Ageas Group, the Belgium-based international insurer. Total transaction consideration is £181 million (approximately USD $305 million), subject to closing adjustments. The transaction is expected to close in the fourth quarter of 2014, pending regulatory approval. Ageas […]
Bank of America Merrill Lynch, a global leader in payments, recently hosted a webcast on how to successfully navigate the payments landscape in Europe. The event was aimed at U.S.-headquartered businesses planning to expand their operations into the region. Ken Ullmann, head of U.S. Central Region Treasury Sales for Global Commercial Banking, who led the […]
Information received since the Federal Open Market Committee met in June indicates that growth in economic activity rebounded in the second quarter. Labor market conditions improved, with the unemployment rate declining further. However, a range of labor market indicators suggests that there remains significant underutilization of labor resources. Household spending appears to be rising moderately […]
NEW YORK– American International Group, Inc. (NYSE:AIG) today announced that it has reached a global resolution of its residential mortgage related disputes with Bank of America. The resolution includes its claims pending in New York and California federal courts related to the creation, offering, and sale of RMBS from which AIG and its subsidiaries suffered […]
WASHINGTON, D.C., – JPMorgan Chase & Co. today launched Small Business Forward℠, a five-year, $30 million grant program to boost small business support networks that help growing enterprises in specific industries. Small Business Forward connects entrepreneurs with critical resources to help their businesses grow, create jobs and strengthen communities. Small businesses can increase their impact […]
New York – Citigroup today announced that it has reached an agreement to settle the ongoing investigation of the Residential Mortgage-Backed Securities (RMBS) Working Group, part of the Financial Fraud Enforcement Task Force. Today’s agreement resolves actual and potential civil claims by the U.S. Department of Justice (the DOJ), several state attorneys general (State AGs), […]
Global investors have regained a strongly bullish stance on the outlook for equity markets in the second half of 2014, according to the BofA Merrill Lynch Fund Manager Survey for July. A net 61 percent of global asset allocators are now overweight equities. This ranks as the survey’s highest reading on this measure since early […]
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