Bank secrecy

Cash works After downloading their app, we get to quickly send money between friends. There is no "cashing out". Instead, the money we get is deposited into our bank account within seconds. It is 100% free to use between friends. All that is needed is a mobile number or email address. The handshake involves any debit card tied to a bank account.…

Interest rates have stayed at the same relatively low rate for years and can be beneficial in many ways. For instance, they make cheaper borrowing costs and mortgage interest payments. This in turn encourages spending and investment and leads to higher aggregate demand. However these advantages do come with disadvantages. Effects such as a reduction in the incentive to save as well as a depreciated exchange rate. In other words, a low interest rate has its perks but is likely to be too good to…

Most people nowadays assume that their hard earned money is pretty safe right? You would think that with all the guarantees and safety protocols banks have in place along with all the laws and rules, banks couldn’t get away with taking money from people. Well safe to say that your money is reasonably safe in this day in age, now that there are actually money rules and regulations put in place to keep your money where you desire it to be. But not so long ago, there were some pretty bad people…

The Dodd-Frank Act is to promote the financial stability of the United States by improving accountability and transparency in the financial system to end “too big to fail” to protect the American taxpayer by ending bailouts to protect consumers from abusive financial services practices, and for other purposes (CFTC.gov, ND). The current state of the executive order that President Trump has initiated assess the federal independent financial regulatory agencies that Dodd-Frank administer. In 2008…

Elizabeth M. Snyder, CRCM, is a regulatory compliance specialist with more than 25 years of diverse industry and functional expertise. Elizabeth joined First Citizens Bank, a $35 billion Bank headquartered in Raleigh, North Carolina, in August 2017 as the Senior Vice President & Senior Manager, Compliance Governance and Exam Management. Her current responsibilities include executing the compliance department governance processes, coordinating complex regulatory exam issues and regulatory…

Financial Crisis and its Impact Outline I. Introduction-Thesis Statement A. To better understand the financial crisis of 2007 and its impact on financial markets and financial institutions one must get to the core to see the causes and conditions that enabled us to happen. To do this an in-depth look must be taken on the following: 1. The cause of problems for financial institutions during the financial crisis itself. 2. The impact the financial crisis had on financial market liquidity. 3. Risk…

Real estate myths are all too common, however, they can be “debunked” with a proper explanation. I know you’re asking yourself, what myths could possibly exist in real estate? Here are the 10 real estate myths, in no specific order, that are commonly heard and misconstrued by the general population. All Real Estate Agents Are The Same his myth can lead to buyers and sellers making big mistakes when selecting a real estate agent to represent their interests. Every agent has different skills,…

those companies would one day become profitable, and many investors abandoned a cautious approach in fear of not being able to cash in on the growing use of the internet. (Dotcom Bubble Definition). In the year 2000 Eliot Spitzer sued eight investment banks for conflict of interest and recommending dot-com stocks they thought were junk. The lawyers had reached settlements totaling $1.4 billion in fines in the year 2002. (Inside Job). Through 2000 to 2005 the investigations of Fannie Mae and…

When financial crisis in 2008 happened, I was only a middle school student and had no ideas what exactly happened and what caused it to happen. As I grow older, knowing I wanted to major in Business, I started to have interests in the crisis. I really wanted to truly understand the crisis, and someone recommended me to watch the movie, Too Big to Fail. I learned that housing bubbles were the main cause of the crisis, and the government tried everything to save multiples firms, including Fannie…

Debtor Beware: Debt Collectors Find Their Silver Bullet Clifford Cain Jr. discovered that a debt collection company had garnished his bank account and taken around $4500 to cover an old debt they said he owed. Cain said that he did not even know that he had been sued until he found out that the money was gone from his account. Midland Funding is part of Encore Capital Group, a gigantic debt collection agency. They did not just go after Cain, but many other residents of Baltimore with the…