News for Bank after L.
Date: August 31, 2024, 11:01 AM GMT
Executive summary: The banking world is abuzz with a mix of news, from the fallout of recent Israeli raids in the West Bank to a new proposal in Singapore that would allow police to restrict bank accounts.
International Banking
Singapore Proposes New Law That Lets Police Stop Bank Transfers
Singapore is planning to introduce a new law that would enable police in the city-state to order banks to restrict the accounts of individuals who are suspected of being involved in criminal activities. This proposal has raised concerns about potential abuse and the impact on individual privacy.
Bloomberg (23 hours ago)
Silicon Valley Bank’s Chinese partner buys out stake in joint venture
Silicon Valley Bank’s Chinese joint venture will become a wholly owned unit of Shanghai Pudong Development Bank, following approval to change its name to Shanghai Pudong Development Bank (Silicon Valley). The move comes after the collapse of Silicon Valley Bank in the US earlier this year.
Reuters (6 hours ago)
The Bank of Japan is certain to raise rates further. The question is when
The Bank of Japan is widely expected to stick to its monetary policy tightening campaign, but many markets participants remain divided over the timing of the next rate hike. The bank’s current policy of maintaining ultra-low interest rates is seen as unsustainable in the face of rising inflation.
CNBC (1 day ago)
Libya’s central bank chief flees country over militia threats: Report
The central bank chief of Libya has fled the country due to threats from militias, according to reports. The Tripoli-based Presidential Council has appointed a new board of directors, and banking operations have been suspended amid the upheaval.
Al Jazeera (1 day ago)
New Development Bank approves up to $1 billion loan for water projects in South Africa
The New Development Bank has approved a new loan of up to $1 billion to finance water and sanitation projects among the poor in South Africa. The loan is part of the bank’s efforts to support sustainable development in emerging markets.
Reuters (48 minutes ago)
US Banking
Warren Buffett’s Berkshire Hathaway Sells About $850 Million Worth of Bank of America Shares
Warren Buffett’s Berkshire Hathaway has been selling off Bank of America shares in recent days, unloading 21 million shares for nearly $850 million. This move signals a shift in Berkshire Hathaway’s investment strategy, possibly reflecting concerns about the banking sector’s outlook.
Barron’s (11 hours ago)
Republic First acquirer Fulton Bank to cut 111 NJ employees
Fulton Bank, which recently acquired Republic First, will be cutting 111 jobs in New Jersey. The bank cites the need to consolidate roles and streamline operations following the merger.
Banking Dive (18 hours ago)
Community Bank & Trust Leverages ValidiFI to Verify Bank Account Information
Community Bank & Trust has chosen ValidiFI to help verify bank account ownership and possession for prospective borrowers. The bank is looking to streamline its lending process and reduce fraud risk.
Finovate (13 hours ago)
Fintech banking apps – what you need to know
The use of fintech banking apps is on the rise. The Department of Financial Protection and Innovation provides guidance on how to choose a safe and secure fintech banking app.
The Department of Financial Protection and Innovation (.gov) (17 hours ago)
Israeli-Palestinian Conflict
Israel has launched a major operation in the West Bank. Here’s what to know.
The Israeli military has launched a large-scale operation in the occupied West Bank, targeting Palestinian refugee camps in Jenin. The operation has resulted in numerous casualties and has been condemned by international human rights groups.
Vox (13 hours ago)
Why are we always talking about the West Bank?
The Israeli assault on refugee camps in the occupied West Bank has dominated headlines. Israel has killed at least 20 people since it launched its attacks on Jenin.
Al Jazeera (2 hours ago)
Israeli army says it killed 2 Palestinians attempting West Bank bombings
The Israeli army says it killed two Palestinians in separate incidents in the occupied West Bank, after one infiltrated an Israeli settlement and the other attempted to carry out a bombing.
Reuters (7 hours ago)
Israeli forces kill local Hamas commander in West Bank
Israeli forces killed a local commander of the Islamist movement Hamas in the flashpoint city of Jenin. The operation comes amid escalating tensions in the West Bank.
Reuters (20 hours ago)
Israel army says 2 Palestinians killed attempting West Bank attacks
The Israeli army said on Saturday two Palestinians were killed overnight while preparing to carry out bombings in the occupied West Bank, where an Israeli military operation has entered its fourth day.
Voice of America (1 hour ago)
Finance and Economy
Did the Bank of England Set Britain on the Road to Ruin?
The Bank of England’s recent monetary policy decisions are being scrutinized, with some critics arguing that the bank’s actions have contributed to the UK’s economic woes.
American Institute for Economic Research (1 day ago)
Australian bank weighs ban on office-hours drinking after trader misbehaviour
One of Australia’s largest banks is reviewing whether it should ban its staff from drinking alcohol during work hours following incidents of bad behavior. The review comes after a trader was found to have been intoxicated while on duty.
Financial Times (1 day ago)
Miscellaneous
‘I Am Not A Robot: The Bank Says So’
Banks and other online services are increasingly using CAPTCHA tests to verify that users are human. However, these tests are often difficult for humans to complete, leading to frustration and a sense of alienation.
Forbes (14 hours ago)
Dover Fire’s Toy Bank lost all toys in water leak: Car dealers, community rally to help
The Dover Fire Department’s Toys for Tots program lost all of its toys to water damage. Local car dealers and the community have stepped up to help replace the lost toys.
Foster’s Daily Democrat (2 hours ago)
YouTube
Yikes! Major Bank WARNING JUST Out
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Video length: 11:07
Channel: Meet Kevin
Summary: This video discusses a warning about a major bank, but the details are unclear. The video also promotes financial advice and courses.
YouTube (12 hours ago)
World’s Biggest Unregulated Bank – Starbucks
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Video length: 22:05
Channel: The Fat Files
Summary: This video explores the financial practices of Starbucks, arguing that the company is essentially an unregulated bank.
YouTube (14 hours ago)
Former World Bank president warns this is ‘not a good mix’ for …
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Video length: 6:21
Channel: Fox Business
Summary: Former World Bank President David Malpass discusses his concerns about the current state of the US economy.
YouTube (13 hours ago)
‘Israeli raids in the Occupied West Bank: Largest assault in two …’
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Video length: 2:46
Channel: Al Jazeera English
Summary: This video provides an update on the Israeli military’s ongoing assault on the occupied West Bank.
YouTube (3 hours ago)
Here’s What The Banks Don’t Want You To Know!
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Video length: 5:18
Channel: Rob Gill – EPIC Financial Strategies
Summary: This video discusses the benefits of cash value life insurance as a financial tool.
YouTube (16 hours ago)
Elon Musk SpaceX Starlink Bank Accounts Frozen
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Video length: 19:24
Channel: JCristina
Summary: This video discusses the recent freezing of SpaceX Starlink bank accounts in Brazil due to a legal dispute with social media platform X.
YouTube (15 hours ago)
Israel continues operations in the West Bank
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Video length: 2:27
Channel: ABC News
Summary: This video provides an update on the Israeli military’s ongoing operations in the occupied West Bank.
YouTube (12 hours ago)
SCAM ALERT | Two Ont. women lose $84K in alleged bank …
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Video length: 3:06
Channel: CTV News
Summary: This video reports on a scam where two Ontario women lost $84,000 after falling victim to a fake bank investigator.
YouTube (14 hours ago)
Do you have a mobile deposit limit at your bank?
This Reddit thread discusses mobile deposit limits imposed by banks. Users share their experiences with different banks and discuss the reasons behind these limits.
Reddit (3h ago)
If you had a choice, would you choose for your bank to be …
This Reddit thread asks users if they would prefer their bank to be open earlier in the morning or stay open later in the evening. Users share their preferences and discuss the challenges of traditional banking hours.
Reddit (4h ago)
‘Tf is the problem with this bank? : r/hungary’
This Reddit thread expresses frustration with OTP, a Hungarian bank, regarding customer service issues. The user details their experience with a deposit issue and seeks advice from others.
Reddit (2h ago)
What’s a good bank to open a debit card with many …
This Reddit thread asks for recommendations for a bank with convenient locations in New York City, offering minimal fees and a good debit card.
Reddit (3h ago)
‘DIGITAL BANK/EWALLET FOR SAVINGS : r/DigitalbanksPh’
This Reddit thread seeks recommendations for digital banks or e-wallets in the Philippines for savings purposes.
Reddit (2h ago)
Are there any U.S. banks that will let me open an account …
This Reddit thread asks if there are any US banks that will allow a US citizen without a US residential address to open an account.
Reddit (3h ago)
Paypal won’t add my bank and won’t give a reason for it.
This Reddit thread details a user’s experience with PayPal refusing to add their bank account without providing a reason.
Reddit (2h ago)
Account got permanently limited and can’t unlink bank …
This Reddit thread discusses a user’s experience with PayPal permanently limiting their account and preventing them from unlinking their bank account. The user seeks advice on how to proceed.
Reddit (2h ago)
‘New Checking Account Offer From Citi : r/Banking’
This Reddit thread discusses a new checking account offer from Citibank and seeks clarification on how direct deposits affect the offer’s eligibility.
Reddit (1h ago)
Direct Bank "Home Rewards" bait and switch
This Reddit thread expresses frustration with Direct Bank’s "Home Rewards" program, alleging a bait-and-switch tactic where the monthly rebate was discontinued.
Reddit (5h ago)
