Several large U.S. banks have set aside extra money to pay for potential legal costs in part because of JPMorgan Chase & Co’s massive $13 billion settlement with U.S. authorities over bad mortgages, according to two sources familiar with the situation. The size of the JPMorgan settlement, which the government […]
Frauds & Scandals
HSBC, Citi suspend traders as FX probe deepens
HSBC and Citigroup both suspended foreign exchange traders on Friday as a global probe into possible currency market manipulation intensified. Regulators from the United States arrived in London this week, stepping up an investigation in which they are working with Britain’s financial watchdog to determine whether traders at some of […]
Ecobank under pressure as Africa tightens bank scrutiny
* CEO’s tenure under scrutiny after governance criticised * Nigeria’s SEC criticised Ecobank hiring, called for new chairman * Ecobank says to strengthen governance, call shareholder meeting * Investors disappointed by bank’s lack of governance * Ecobank spokesman says 2013 profits strong, share price unaffected Ecobank’s response to criticism […]
