“Computer Glitch” That Went Unfixed for 5 Years Caused Hundreds of Bank Customers to Lose Their Homes
Wells Fargo blames faulty computer software for the foreclosure of hundreds of homes after the bank incorrectly denied them mortgage modifications. The computer error began in April 2010, was fixed in October 2015, and Wells Fargo only admitted it in … Continued
Cops Arrest Bank Robber, Then Discover He’s the Deputy Sheriff
A Davidson County Sheriff’s Deputy was arrested and charged for robbing F&M Bank on West Main Street in Rockwell, NC. Deputy Jeff Athey calmly walked into the bank without hiding his face from security cameras. He showed a teller his … Continued
Banking Is No Longer a Financial Service: New Treasury Department Rule Gives Huge Tax Break to Banks
According to the Treasury Department, banking is no longer a “financial service.” With this reclassification, a new Treasury Department proposal hands huge tax breaks to banks. In 2017, the Tax Cuts and Jobs Act stated that financial services companies were … Continued
What If Banks Were Publicly Owned? L.A. Prepares to Vote
This November, voters in Los Angeles will decide whether or not to take money out of big banks and into a publicly owned bank. In June, the city council voted unanimously to add the measure to the November ballot. If … Continued
Hack Alert: FBI Warns Banks of “Unlimited” Worldwide ATM Cash-Out Attack
The FBI has warned of an imminent global cash hack at ATM machines. “The FBI has obtained unspecified reporting indicating cyber criminals are planning to conduct a global Automated Teller Machine cash-out scheme in the coming days, likely associated with … Continued
Construction Finance: Time Value of Money & Project Evaluation
In these “Construction Finance” articles, we will analyze the finance of civil engineering and construction management. The first few articles cover mathematics, specifically the time value of money, interest rates, and rate of return. The second set of articles will … Continued
Facebook Wants to See Your Bank Transactions and Balances
Facebook has asked major U.S. banks to give up detailed financial information about their customers, including card transactions and checking account balances, because the social media giant wants to offer its users new services. Seeking to also be a place … Continued
First National Bank Will Stop Issuing NRA Visa Cards
First National Bank of Omaha, the nation’s largest privately-owned bank holding company, has listened to it’s customers and decided to stop issuing their NRA branded Visa card. “Customer feedback has caused us to review our relationship with the NRA. As a … Continued