Federal Reserve Directs 8 Biggest U.S. Banks to Hold Extra Capital
The Federal Reserve’s action Monday means the eight banks together will be required to shore up their financial bases with about $200 billion in additional capital.
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Study Finds Mobile Device Addicts are Multiplying Across the World
In its second annual report on consumer mobility, the Bank of America found that Americans are more plugged in than ever, with 71 percent even admitting that they sleep with their cell phones next to them. This, the BoA said, is evidence of a growing rate of addiction to mobile devices.
Major US Banks Closing Border Branches to Fight Money Laundering
As more money continues to flow into the pockets of Mexican drug cartels, traffickers need to maintain a solid network of places—often along the southwest border—where they can launder drug money. However, in an attempt to stymie these efforts, several major US banks have been closing numerous branches in the region and shutting down hundreds of customer accounts.
Operation Choke Point Strikes Again: Banks Shut Down Business Accounts of Company Owned by Former Marine
While some optimistic members of Congress have recently claimed that Operation Choke Point is winding down, out in the real world small business owners like Brian Lynn are learning otherwise.
