The Group Managing Director/Chief Executive Officer, Access Bank Plc, Mr. Herbert Wigwe, says the financial sector is losing a huge chunk of its revenue to frauds. He also said frauds and anti-money laundering activities had reduced the amount of Foreign Direct Investment coming into the country. Wigwe spoke at a […]

Sep 12, 2014/Bloomberg HSBC Holdings Plc (HSBA) will pay $550 million to resolve accusations of misconduct in its handling of mortgage securities sold to taxpayers before the financial crisis. The U.S. unit of the London-based lender, HSBC North America Holdings Inc., reached the deal to end Federal Housing Finance Agency […]

Morgan Stanley (MS.N) has agreed to pay $95 million to resolve a lawsuit accusing the Wall Street bank of misleading investors in mortgage-backed securities in the run up to the 2008 financial crisis. The settlement, disclosed in court papers filed Monday in New York federal court, follows years of litigation […]