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Bank robbed on North Side Friday morning
A man robbed a Chase Bank branch in the Lincoln Park area Friday morning, according to the FBI.The robbery occurred about 9:20 a.m. in the 1700 block of West Fullerton Avenue, the FBI said.The robber was wearing a black ski mask, blue jeans and a black sweatshirt.Check back for updates.
-1 points by Chicago Tribune | Bank robbery Bank Robbery
FBI investigates ‘takeover’ bank robbery on North Side
A bank was robbed Friday morning on the North Side.
1 points by Chicago Sun-Times | Bank robbery Federal Bureau of Investigation Waco Siege Law enforcement agency Bank J. Edgar Hoover
Wells Fargo fined $185M for fake accounts
Bank says it fired roughly 5,300 workers during a five-year period for their involvement         
25415 points by Arizona Republic | Los Angeles Wells Fargo Bank of America First Interstate Bancorp Bank American Express Los Angeles County California Cheque
5,300 Wells Fargo staff fired over bogus accounts
Bank says it fired roughly 5,300 workers during a five-year period for their involvement         
25415 points by Arizona Republic | Los Angeles Wells Fargo Bank of America First Interstate Bancorp Bank American Express Los Angeles County California Cheque
Wells Fargo fined $185M for fake acounts; 5,300 were fired
Bank says it fired roughly 5,300 workers during a five-year period for their involvement         
-1 points by Arizona Republic | Los Angeles Wells Fargo Bank of America First Interstate Bancorp Bank American Express Los Angeles County California Cheque
The Wells Fargo scandal should scare you
It's not an otherwise just banking system corrupted by a single, tainted credit card scheme. It's "extreme capitalism" preying on trusting customers.
4468 points by CNN | Bank Bank of America Economics Money Credit card American Express Cheque Credit history
Wells Fargo employees fired over bogus accounts
Bank says it fired roughly 5,300 workers during a five-year period for their involvement         
25415 points by Arizona Republic | Los Angeles Wells Fargo Bank of America First Interstate Bancorp Bank American Express Los Angeles County California Cheque
Wells Fargo to pay $190M settlement in customer fraud case
The largest U.S. bank by market capitalization will pay $185 million in penalties and $5 million to customers that regulators say were pushed into fee-generating accounts they never requested.
251 points by Las Vegas Review-Journal | Bank Financial services Finance Cheque Credit card Banking Minneapolis Los Angeles
Another day, another $185mn: Wells Fargo fined for opening fake accounts
A top US bank, Wells Fargo, has agreed an $185 million payout settlement with California and federal regulators after it opened more than 2 million fake accounts not authorized by customers. It is the company’s second instance of fraud in recent months. Read Full Article at RT.com
1015 points by Russia Today | Credit card Wells Fargo Money Los Angeles Bank Overdraft The Los Angeles Times Payment
Wells Fargo fined $185M for unauthorized accounts; fires 5,300
Bank says it fired roughly 5,300 workers during a five-year period for their involvement         
25415 points by Arizona Republic | Los Angeles Wells Fargo Bank of America First Interstate Bancorp Bank American Express Los Angeles County California Cheque
Wells Fargo fined $185M for unauthorized accounts; says it has fired 5,300
Bank says it fired roughly 5,300 workers during a five-year period for their involvement         
-1 points by Arizona Republic | Los Angeles Wells Fargo Bank of America First Interstate Bancorp Bank American Express Los Angeles County California Cheque
Wells Fargo fined $185M for unauthorized accounts
Investigators say the bank opened more than 2 million deposit and credit card accounts         
25415 points by Arizona Republic | Wells Fargo Bank of America Los Angeles First Interstate Bancorp Bank American Express Cheque Federal Bureau of Investigation
Wells Fargo fined $185M for bonus scam; 5,300 employees reportedly fired
Doug G. WareWASHINGTON, Sept. 8 (UPI) -- Regulators have fined Wells Fargo Bank nearly $200 million for a scam that opened millions of fake accounts to meet quotas and generate bonuses, officials said.
411 points by UPI | Wells Fargo Bank of America Cheque Penalty Overdraft Bank Wachovia American Express
Wells Fargo Fined for Years of Harm to Customers
Federal banking regulators say that the bank issued unauthorized credit cards and charged late fees on accounts created by bank employees without customers’ knowledge.
21 points by The New York Times | Bank Wells Fargo Bank of America Consumer protection Banking Cheque Los Angeles Office of Fair Trading
Raid targets millionaire on food stamps
Police are investigating potential theft as well as Medicaid and welfare fraud charges.       
225 points by USA Today | Bank Secrecy Act Banking Bank Cheque Geauga County Ohio Police Net income Loan
If Huntington mails a payment but the check is lost, what happens to the money?: Money Matters
I bank at Huntington and had requested a payment be sent to a friend I owed money to. The payment was processed through Huntington's online bill payment service and the money was debited from my account the same day. Three months later, I found out he apparently never received the check. Q: I bank at Huntington and had requested a payment be sent to a friend I owed money to. The payment was processed through Huntington's online bill payment service and the money was debited from my account the same day. Three months later, I found out he apparently never received the check. At least that's what he says. How can I find out? Huntington already deducted the money from my account? What if he never got the money and I never found out? What would happen to the money? B.E., Solon A: Huntington and a few other banks operate their bill payment services with what's called a "good funds" policy. As soon as a payment is sent, the money is debited from your account. If it's an electronic payment, such as for your electric bill or credit card payment, no biggie. It will be received the day it's sent. But in the case of a check sent to an individual who doesn't receive payments from banks electronically, it can be a little messy. So you raise a good question. You can tell whether a check has been cashed by logging into your account online. Since the money was already debited, you have to go to a different tab to check on the status of past payments. I asked Huntington spokesman Brent Wilder what happens to the money if a check would get lost in the mail. Would Huntington just keep it? Would the bank refund it to the customer at some point? Would the bank issue the check again? Wilder confirmed that funds get deducted from an account when the check is issued to someone. "If the check does not get cashed after 180 days, the check gets canceled and the funds are routed back to the customer," Wilder said. "If the customer still has an account at Huntington, the funds will be deposited back into their account. If the customer no longer has an account a check will be cut and mailed to their address. In your case, your friend doesn't want to wait three more months to get his money. So Huntington says you can call and cancel the payment without a fee and the check will be reissued. (I'm assuming this couldn't happen too often or Huntington might start getting ticked off and start charging fees.) But situations like you describe are just one of the reasons I'm not a fan of the "good funds" method of online bill pay. You don't know when the party actually receives the check. And the bank has free use of your money during that limbo period from the time it's deducted from your account until the recipient cashes your check. I think online bill payment services in general are fantastic. Great time-savers. Very accurate. But if you use your bank's bill pay service and if you care, you should ask your bank whether it uses the "good funds" method (money deducted immediately) or "risk-based" method (money deducted from your account when the check is actually cashed).
-1 points by The Plain Dealer | Money Credit card Payment Bank Payments Business terms Cheque English-language films
Wells Fargo to pay $150 million-plus over allegations its workers opened fake accounts
City and federal officials have reached a settlement of at least $150 million with Wells Fargo over allegations that the bank’s employees, driven by strict sales quotas, regularly opened new accounts for customers without their knowledge. The settlement, according to documents reviewed by The Times,...
8774 points by Los Angeles Times | Wells Fargo Lawsuit Bank of America Credit card Los Angeles Bank Fraud Dispute resolution
Top banks in Iran dragged into Rouhani tussle with rivals
Several of Iran's biggest banks have been dragged into a fight between the government and its hardline opponents, as disputes over last year's nuclear deal roil domestic politics months ahead of presidential elections. The nation's leading conservative newspaper on Saturday published photos of...
-1 points by Chicago Tribune | Ali Khamenei Iran Mahmoud Ahmadinejad Army of the Guardians of the Islamic Revolution Basij Mir-Hossein Mousavi Hezbollah Bank
Houston man sentenced for Crosby bank robbery
Dominic Renard Lindsey, 32, was sentenced to 11 years and three months in federal prison for a May 18 Crosby bank robbery. 
-1 points by The Houston Chronicle | Criminal law BBVA Compass Bank robbery Bank Federal government of the United States Cartridge Legal terms Bank of America
TCF Bank branch robbed in Uptown
A TCF Bank branch was reported robbed on Friday evening in the Uptown neighborhood on the North Side.
1 points by Chicago Sun-Times | Bank robbery Bank
Trump SEC pick Clayton assures that his Wall Street work not problem
WASHINGTON — President Donald Trump’s nominee to lead the Securities and Exchange Commission, attorney Jay Clayton, sought to assure lawmakers that he’ll show no favoritism and act only in the public interest, as his Wall Street connections were scrutinized at his Senate confirmation hearing Thursday.
-1 points by Pittsburgh Post-Gazette | United States Senate Paul Tudor Jones Finance Goldman Sachs President of the United States Financial crisis of 2007–2010 U.S. Securities and Exchange Commission Bank
Revealed: How likely you are to lose your job to robots

-1 points by CNN | Dow Jones Industrial Average Dow Jones & Company Trademark Finance Dow Jones Indexes Charles Dow Bank Edward Jones
How global banks handled laundered Russian cash

-1 points by CNN | Money laundering Bank Bank of America Suspicious activity report Police Citigroup BNP Paribas Financial services
Michigan businessman gets 11 years for embezzlement
Authorities said he used “a variety of methods” to execute and cover his embezzlement.        
-2 points by Detroit Free Press | Bank Fraud Financial services Genesee County Michigan Oakland County Michigan Credit union Theft 2015
Russia's banking system has SWIFT alternative ready
If the Society for Worldwide Interbank Financial Telecommunication (SWIFT) is shut down in Russia, the country’s banking system will not crash, according to Central Bank Governor Elvira Nabiullina. Russia has a substitute. Read Full Article at RT.com
-1 points by Russia Today | Vladimir Putin Russia Bank Boris Yeltsin Russia–Ukraine gas disputes 2016 Beslan school hostage crisis MasterCard
U.S. Bank branch robbed in Lincoln Square
A U.S. Bank branch was robbed Thursday afternoon in the Lincoln Square neighborhood on the North Side.
-1 points by Chicago Sun-Times | Federal Bureau of Investigation United States Special agent Bank robbery White American White people Light Bank
Man suspected in 5 bank robberies strikes again in Alsip
A man suspected in five suburban bank robberies since December struck again Thursday evening in south suburban Alsip.
-2 points by Chicago Sun-Times | Bank robbery Bank Federal Bureau of Investigation Robbery United Kingdom John Dillinger Waco Siege Emmett Till
Judge to decide restitution for customers after $588K left behind in heist
Dozens of customers victimized by the brazen burglary of a Queens bank vault are now scrambling to divide the cash that was left behind. Maspeth Federal Savings Bank in Rego Park wants a federal judge to figure out which of its customers should get restitution from the $588,370 in bills left scattered in the vault...
28 points by New York Post | Safe deposit box Federal Deposit Insurance Corporation Deposit insurance Fractional-reserve banking Bank run Federal government of the United States Bank Cheque
Preparing for life after high school
Jarrettsville Lions donate $500 to support EHS Academy of Finance at EHS
-2 points by Baltimore Sun | Harford County Maryland Credit union High school Education Edgewood Maryland Bank Investment Jarrettsville Maryland
Yellen defends Fed independence, banking regulations
WASHINGTON — Federal Reserve Chair Janet Yellen defended the central bank's independence Wednesday from Republican lawmakers who are pushing for major changes in how the central bank operates and how regulators oversee the nation's banking system.During a hearing that stretched over four hours, GOP lawmakers repeatedly challenged Yellen's handling of the economy and her leadership in implementing the 2010 Dodd-Frank Act, a measure that President Donald Trump and Republicans have vowed to overhaul.
-2 points by Boston Herald | Bank Central bank Monetary policy Federal Reserve System Interest rate Inflation Bank of England Money supply
Janet Yellen pushes back on Trump remarks about lending
Janet Yellen isn’t exactly going out of her way to make nice with President Trump. The Federal Reserve chair pushed back on Tuesday against Trump’s comments on reduced bank lending — saying that Obama-era regulations haven’t made it harder for people to borrow money. The remarks come as Trump and his top economic adviser, Gary...
6 points by New York Post | Federal Reserve System Monetary policy Bank Finance Central bank Economics Debt Money
Chicago woman gets 7 years for 2015 identity theft
A Chicago woman was sentenced to seven years in prison Friday for committing identity theft in 2015.
16 points by Chicago Sun-Times | Identity theft Crime Personally identifiable information Theft Kane County Illinois Bank Chicago metropolitan area Credit card
Senate confirms Steven Mnuchin as treasury secretary
The Senate confirmed Steven Mnuchin as Treasury secretary Monday evening, putting an end to a contentious and protracted debate while adding another former banker to President Donald Trump’s roster of advisers.
2 points by Pittsburgh Post-Gazette | Subprime mortgage crisis Henry Paulson Bank United States Senate Finance Goldman Sachs Public company Robert Rubin
Centennial and Citywide banks merging, will create $2.3B bank
Denver-based Centennial Bank and Trust, a subsidiary of Heartland Financial USA, will merge with Aurora-based Citywide Banks in a $203 million stock and cash deal.
7 points by The Denver Post | Bank President Banks Finance Management occupations Chairman Board of directors Bond
Senate confirms Steve Mnuchin as Treasury secretary over objections by Democrats
A bitterly divided Senate on Monday confirmed Steven Mnuchin as treasury secretary despite strong objections by Democrats that the former banker ran a "foreclosure machine" when he headed OneWest Bank. Republicans said Mnuchin's long tenure in finance makes him qualified to run the department,...
-2 points by Chicago Tribune | United States Senate Mitch McConnell Party leaders of the United States Senate Democratic Party President of the United States United States Senate Committee on Finance Bank Cayman Islands
Steven Mnuchin confirmed as Treasury secretary
Steven Mnuchin, the former CEO of OneWest Bank, was confirmed as Treasury secretary.         
-2 points by Arizona Republic | United States Senate Democratic Party George W. Bush Bank United States Senate Committee on Finance Joe Biden Finance Bob Packwood
Senate confirms Mnuchin as treasury secretary
enate confirms former banker Steven Mnuchin as treasury secretary over objections by Democrats.
28 points by Chicago Sun-Times | United States Senate Mitch McConnell Party leaders of the United States Senate Democratic Party United States Senate Committee on Finance Bank Cayman Islands President of the United States
Congress could limit the Fed's independence — and hurt the U.S. economy
The Fed has worked for a level playing field worldwide for U.S. financial institutions.
228 points by The Washington Post | Federal Reserve System Central bank Monetary policy Bank Money supply Finance Federal Reserve Act Central banks
Community banks hopeful as lawmakers target financial rules
Community banks and small businesses are optimistic about changes the Trump administration and Congress have promised to laws that tightened supervision of the banking industry after the 2008 financial crisis. They hope regulations will ease the paperwork required that they say has become a financial burden and caused many small banks and lenders to fail.
7 points by The Denver Post | Bank Bank run Small business Banking Federal Deposit Insurance Corporation Fractional-reserve banking Business Overdraft
Letter: Man of the people?
Man of the people?If President Donald Trump is a man of the people, as he claimed in his inaugural address, why is he getting rid of Dodd-Frank banking regulations. Dodd-Frank was enacted after the horrendous banking debacle of 2007-08 when banks made too many dubious loans. It requires banks to mai...
-2 points by Concord Monitor | Financial adviser Finance Donald Trump Bank Economics United States presidential inauguration Ivana Trump Fred Trump
Ex-Professor gets prison for Swiss tax cheat scheme
Eric DuVallFeb. 11 (UPI) -- A former business professor will spend seven months in prison after being convicted of stashing more than $200 million in Swiss accounts to avoid U.S. taxes.
4 points by UPI | Tax Taxation in the United States Internal Revenue Service Offshore bank Bank United States Banking Crime
Fifth Third Bank robbed in Naperville
The FBI is investigating a bank robbery Saturday morning in west suburban Naperville.
32 points by Chicago Sun-Times | Bank robbery Bank Federal Bureau of Investigation Hoodie John Dillinger Waco Siege Grey
Bank robbed in Westchester
Authorities are investigating a bank robbery Friday evening in west suburban Westchester.
65 points by Chicago Sun-Times | Bank robbery Bank
GOP preparing plan to gut CFPB, roll back Wall Street regulations
WASHINGTON - A Republican plan to dismantle Wall Street reform would strip the Consumer Financial Protection Bureau of many of its powers, including eliminating its consumer complaint database and scaling back its enforcement powers, according to a five-page memo distributed by Rep. Jeb Hensarling, chairman of the powerful House Financial Services Committee.
3 points by Pittsburgh Post-Gazette | United States House Committee on Financial Services Bank Sherrod Brown Law enforcement agency Democratic Party Law enforcement agency powers Consumer protection Federal Bureau of Investigation
Trump's claim that friends 'can't borrow money' because of Dodd-Frank
Trump was mocked for his statement but White House officials say he was talking about community banks.
2925 points by The Washington Post | Small business Late-2000s recession Capital requirement Bank President of the United States Business White House Vice president
Wells Fargo execs unlikely to get bonuses after scandal
Like many of their own customers, Wells Fargo’s top executives are about to be in for a shock when they check their bank accounts. Top Wells Fargo executives, including Chief Executive Tim Sloan, likely won’t get a bonus this year after a fake accounts scandal sullied the bank’s reputation and weighed heavily on its shares,...
16 points by New York Post | Wells Fargo Cheque Native Americans in the United States North Dakota Bank of America Indian reservation Banking Bank
Democrats dig in to fight Trump's takedown of Dodd-Frank financial regulations
Democrats are preparing for a battle over President Trump’s push to dismantle the Dodd-Frank financial reform law, which analysts said will be difficult to accomplish without bipartisan support. House Democratic Leader Nancy Pelosi vowed Monday to take the case to the public to try to build opposition...
-2 points by Los Angeles Times | United States Senate Barack Obama Bank Democratic Party Financial crisis of 2007–2010 Bill Clinton Donald Trump Reconciliation
Mail in someone else's name could signal fraud: Money Matters
Over the past eight months, we've been receiving mail for people who don't and have never lived at our address. For the first month the mail was addressed to one person. We have about 12 pieces of mail for her. Since then we've received about 37 pieces of mail addressed to seven different people. I am worried this could lead to identity theft. File photo  Q: We've lived at and owned our home in for seven years and know the previous owner and the names of others in her family. Over the past eight months, we've been receiving mail for people who don't and have never lived at our address. For the first month the mail was addressed to one person. We have about 12 pieces of mail for her. Since then we've received about 37 pieces of mail addressed to seven different people. I am worried this could lead to identity theft. L.A., Lyndhurst A: I agree that this is concerning. I believe it's probably more creepy than a real imminent danger. Rather than this possibly leading to identity theft, I think it could be an indicator of possible identity theft in the future. If I were you, I'd go on offense: Check your credit reports immediately to make sure there are no accounts you don't recognize, and make sure none of these names or forms of them appear as AKAs on your report. You're entitled to one free credit report per year from each of the three major credit bureaus. Go to annualcreditreport.com or call 1-877-322-8228. You'll be asked to provide your name, address, Social Security number and date of birth. Do some investigating. Ask your neighbors whether they've heard of this person. The person could be one of your neighbors and somehow his or her address got bungled in a database that multiple companies are using. Do some investigating part 2. Call some of these companies (block your number, or call from a work phone) and ask where they got this address for Mary Whatsherhead. It could be something as innocent as this: Mary used your address to enter a contest at the mall and just made up an address. You and I both know that marketers pounce on suckers who are naive enough to give out information in situations like this. If Mary gave out your address one time, other companies could be using that database. Be extra paranoid about calls to your home, text messages or emails that look like they're from reputable companies that you may do business with. Be on guard for any attempt to extract personal information about you. Buy a locking mailbox. My husband and I got a locking mailbox 12 years ago. I remain stunned that I hardly ever see other locking mailboxes. We've switched a lot of bank statements, utility bills, etc., to be sent by email. Still, like most people, we get mail with personal information. I just couldn't sleep at night if I knew that on any given day, someone could roll up and snatch mail out of our mailbox. The thought just makes me queasy. Anyway, a locking mailbox is about $100. Another advantage is that it can hold small packages and magazines. Contact the companies where you have bank accounts, investment accounts, credit cards and other types of financial accounts. Ask whether you can put additional verbal passwords on your accounts that don't involve any public record data such as your date of birth. We're talking about PINs or random words (like tennis or treetop). You want to make sure someone can't access your accounts for wire transfers or to change your contact information without your secret password. Put every type of protection you can on your financial accounts. If you can require codes to be sent to your cellphone in order for you to log in from an unknown phone or computer, do it. If you can request email or text alerts for purchases or bank account withdrawals or changes to your contact information, then do it. While you're at it, make sure that companies you do business with have all of your current contact information in their files. If you get really paranoid, or come across new information points strongly to possible identity theft, you could do a credit freeze. You'd have to contact each of the bureaus individually. Equifax: http://www.equifax.com/help/credit-freeze/en_cp or call 1-800-685-1111 TransUnion: https://freeze.transunion.com or call 1-888-909-8872. Experian: https://www.experian.com/freeze/center.html or call 1-888-397-3742.One of my primary sticking points with credit freezes is that they can give people a false sense of security. Credit freezes won't help prevent fraud on existing accounts, which constitutes 88 percent of identity theft. Return the letters. First, open the mail to see whether it involves their financial account or anyone you do business with, Yes, open it, don't be afraid of the it's-a-crime-to-open-other-people's-mail boogeyman in a case like this, then scan or take a cellphone picture of the outside of the letter, and then cross out your address and write on it RETURN TO SENDER/ NO ONE HERE AT THAT ADDRESS. And drop it in a mailbox.
2 points by The Plain Dealer | Mobile phone Password Banking 2007 singles Bank American films English-language films Bank account
Seattle becomes the first city to sever ties with Wells Fargo in protest of Dakota Access pipeline
With supporters carrying signs saying “Make big business pay” and Native American activists performing an “honor song” in gratitude, the Seattle City Council on Tuesday voted to make this the first city in the nation to ends its relationship with a bank in protest of the Dakota Access pipeline....
230046 points by Los Angeles Times | North Dakota Seattle Sioux Bank Wells Fargo City Councillor Bank of America
Bank robbed inside Leo Burnett Building
A Chase Bank branch was robbed Tuesday in the Loop.
37 points by Chicago Sun-Times | Chicago River Bank robbery Wacker Drive Bank United Kingdom Chicago