How Banks Often Drive Customers To The Check Cashier
Spain’s biggest banks, it seems, will never learn — not even when the highest court of the land, the European Court of Justice (ECJ), rules against their dodgy practices. The U.S. District Court for the District of Columbia ruled in July 2013 that the Fed ignored the intent of the Durbin Amendment and directed it to go back to the drawing board to make sure the fees were reasonable and Fleeced by banks proportional to what it actually costs banks to process debit card transactions, as directed by Congress.
Local government has borne the brunt of austerity with 40% budget cuts since 2010 It’s absurd that councils are left in a situation where they have little choice but to borrow from private banks (with criminal pedigree) at usurious rates of interest.
One of the other problems that existed in particular was that when the banks projected cost savings, they compared the deal to a more expensive one that CPS wouldn’t have gotten, so in this case it’s as though they made a cost-saving projection that was predicated on the idea that CPS would pay 9 percent otherwise, when, in reality, CPS would have paid 8 percent.
Etisalat Nigeria had in 2013 obtained a seven-year loan facility of $1.2billion from 13 local banks and their foreign counterparts to refinance a $650 million loan as well as the expansion of its network but the company had missed the payment due to dollar shortfall in Nigeria’s financial system.
The Economic Secretary to the Treasury has vowed that the Government will crack down on money laundering practices, after several of the UK’s biggest banks were accused of processing money from a Russian scam, believed to involve up to $80bn (£65bn).