Tim Geithner, who once said he would not write a book after he left the Treasury Department, is writing a book.
The more than $600 million settlement between the bank and several global regulators for manipulating benchmark interest rates is another glaring example of the financial sector run amok and the head of the CFTC says regulators around the globe need bigger and heavier hammers.
A multistate probe of alleged manipulation of interest rates threatens to leave banks liable for billions of dollars in estimated state and local losses from the scandal, even as they settle with national regulators.
Costs are still key.
A Royal Bank of Scotland trader allegedly colluded with a counterpart at UBS to pay almost $330,000 in bribes to brokers willing to help them manipulate global interest rates, regulators said.
When you look at the fines in context of the bank's revenues, the $612 million in fines looks more like a speeding ticket.
More than 10 City workers are under investigation by the Financial Services Authority for rigging Libor, a top regulator said after Royal Bank of Scotland was fined £390m for manipulating the key benchmark rate.
Big banks that rigged interest rates behaved in "brazen, flagrant" fashion, the head of the Commodities and Futures Trading Commission told CNBC on Wednesday, adding that imposing hefty fines were needed as a deterrent to bad behavior.
Credit Suisse will continue to cut costs aggressively as it seeks to keep profits stable in the wake of poor fourth-quarter earnings and a fragile macro-economic environment, CEO Brady Dougan told CNBC Thursday.
Distributing shares in Royal Bank of Scotland to the British public, as advocated by the business secretary, Vince Cable, sounds appealing until you think about the practical difficulties.
Hedge funds focused on China suffered around $10 billion in outflows in July, after the Shanghai Composite posted a fall of over 14 percent for the month, new data shows.
Siobhan Roche, head of emerging-market sales at BNP Paribas in New York, left the bank at the end of July, Cesaltine Gregorio.
Bank of America shareholders will vote September 22 on whether its board was right to grant CEO Brian Moynihan the additional title of chairman last year.