Law360, Washington (September 23, 2015, 1:57 PM ET) — The Second Circuit ruled Wednesday that several banks must turn over Sudanese assets to satisfy a $315 million default judgment for victims who sued Sudan over the deadly 2000 bombing of a U.S. Navy destroyer, finding they properly served the country with the lawsuit.
Investigators examine the USS Cole at a Yemeni port in 2000 after an “explosive-laden skiff” detonated next to the hull, killing 17 sailors. (Credit: AP) The plaintiffs were not required to send a copy of their suit alleging Sudan supplied materials to…
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A U.S. appeals court on Wednesday affirmed a district court’s earlier dismissal of claims by former Federal Reserve Bank of New York bank examiner Carmen Segarra against the regulator and some of its employees.
In the decision, the Second U.S. Circuit Court of Appeals in New York concluded the claims by Ms. Segarra against the New York Fed and the executives were “without merit.” It said she couldn’t maintain her claims against the defendants under banking whistleblower protection laws.
A lawyer for Ms. Segarra said she disagreed with the appeals court decision and that they are “considering our legal options.”
Whoever is in charge in the marketing department should be fired…
Deutsche Bank has been ridiculed on Twitter for naming its annual ‘Women in Asian Business’ conference ‘Men Matter’
Deutsche Bank tried to do a good thing with its latest conference on Women in Business.
Instead of focusing on the role women can play to achieve gender equality in business, they focused on what men can do to help.
Much like UN Women’s HeForShe movement, the idea was to make sure men were involved in the fight for equality.
This didn’t go down well with everyone – especially on Twitter where the hashtag #MenMatter echoed recent justice movements such as#BlackLivesMatter, sparked after racism in the US.
Critics mocked Deutsche Bank for “tweeting angsty thoughts from men about women, at a women in business conference called ‘Men Matter’.”
Citigroup Inc. will pull out of the Massachusetts retail banking market in January, closing its remaining 17 branches primarily in the Boston area and later ending its sponsorship of the Citi Performing Arts Center in Boston’s theater district.
The New York-based financial giant said it will maintain its private bank office for wealthy customers and continue to serve institutional and commercial banking clients here, but will exit the naming rights contract for the performance venue when the agreement comes up for renewal in November 2016, said Andrew Brent, a bank spokesman.
The bank has decided to focus more on its target markets, including New York City, Los Angeles, Miami, New York, San Francisco and Washington, Brent said.
The Wall Street Journal reported U.S authorities were pressuring BNP Paribas to pay over $10 billion to terminate a criminal probe that the bank dodged U.S sanctions on May 29, 2014. Fiorina gave a paid speech to the bank six days later.
Republican presidential candidate and former Hewlett-Packard CEO Carly Fiorina — a vocal critic of lifting economic sanctions on Iran as part of the nuclear deal — delivered a paid speech to French bank BP Paribas in June of last year, six days after the Wall Street Journal reported the bank was the subject of a federal criminal probe for flouting U.S. economic sanctions on Iran.
According to a June 2015 financial disclosure, Fiorina was paid $48,000 for the speech on June 3, 2014. The Wall Street Journal’s report, last updated on May 29, 2014, said that U.S. authorities were pressuring BNP Paribas to pay over $10 billion to resolve a criminal probe that the bank dodged U.S. sanctions.
“The push to secure a high-dollar penalty, along with a guilty plea from BNP, stems in part from what prosecutors viewed as the bank’s longtime flouting of U.S. economic sanctions against Iran, Sudan and other countries, the people said. Investigators were also frustrated with what they believe was a sluggish start to the bank’s internal investigation and slow response to requests by prosecutors for documents and interviews with employees, according to the people familiar with the discussions,” the Journal reported.
Fiorina’s campaign did not respond to a request for comment for this story.
Hackers demand ransom from Fidelity Bank to withhold stolen data, claim amount will be paid to Donald Trump election campaign
In what may be the first time in history, hackers claim to have hacked a website and stolen information for helping United States Presidential candidate, Donald Trump’s campaign. The hackers group who call themselves ‘Hack for Trump’ hacked into the websites of Fidelity Bank and claim to have stolen vital information which is valuable for the bank.
The group is now demanding that the company pay $30,000 in order to keep ‘Hack for Trump’ from releasing the information. In a message to Fidelity, the Hack for Trump said that, “If Fidelity does pay us, we plan on using those funds to help Donald Trump get elected to the White House as he is the only candidate who can restore America to its former glory.”
Fidelity on its part said that the hackers had managed to breach some of its websites. Fidelity has stated in a press release it has taken its website offline and evaluated the websites that were ‘repeatedly hacked’. The bank’s websites are hosted by a third-party vendor and hold minimal client information.
Benjamin Solomon, Deutsche Bank AG’s former global head of securitized-product trading, accused the company in a lawsuit of firing him on frivolous and unjust grounds amid an industry focus on supervisors’ responsibilities.
Solomon entered into an employment agreement with Deutsche Bank Securities Inc. in March 2011 and was terminated for cause in August, according to the lawsuit filed Friday in New York state court. Solomon, who is seeking more than $10 million in compensation, said he never engaged in any conduct that would have justified his firing under that agreement, according to the complaint.