GRAND RAPIDS, Michigan — Check your bank statements if you went shopping over the weekend. Retailers like Meijer, Lowe’s, Costco and even Starbucks are getting complaints for charging people’s cards multiple times. Many people say they ended up swiping their card multiple times after failed attempts, but then noticed duplicateRead More →

CENTRAL bank governors play the crucial role of guiding economies. They are the main advisers to governments on monetary and even budgetary policy. That is why democracies around the world give them the opportunity to work without undue political pressure. It has been shown that, like the media and theRead More →

Egypt raised several interest rates again today. The Central Bank of Egypt raised its overnight deposit rate, overnight lending rate and principal transaction rate by 2% each to 11.25%, 12.25% and 11, 75%, respectively, according to a statement. What is that? A bank’s deposit rate refers to the interest rateRead More →

Hannelore Foerster/Getty Images News By Teunis Brosens, Chief Economist, Digital Finance and Regulation; Maureen Schuller, Head of Financial Sector Strategy; Suvi Platerink Kosonen, Senior Sector Strategist, Finance The era of ultra-low bank lending rates is over. Rate hike and tightening loan approval criteria add to the economic headwinds in theRead More →

Bank of America will pay a $10 million fine and reimburse nearly $600,000 in costs to thousands of customers whose accounts were illegally seized, the Consumer Financial Protection Bureau announced Wednesday. The CFPB said its enforcement action stemmed from the nation’s second-largest bank handling illegal out-of-state garnishment orders on itsRead More →

In short Since discovering that the police’s use of a “non-consent regime” (“Diet“) in the freezing of accounts containing alleged proceeds of crime was unlawful and unconstitutional, the Hong Kong Magistrate’s Court has now issued its decision on reparations and costs in Tam Sze Leung & Ors c. Police CommissionerRead More →