For a number of quarters now, Canadian banks have had a consistent track record of either meeting or exceeding earnings expectations. That ended this week.
Alayne Fleischmann, witness in the case against JPMorgan Chase, says banks are getting away with too much.
Regulatory changes across the globe – combined with other risks – are placing increased pressure on traditional business models, and Canadian banks are not immune, according to EY’s annual risk management survey of major financial institutions.
Look for cheaper stocks that can provide higher returns than Canadian banks.
Canada’s financial system, often touted for its stability, is also stodgy.
Canadian banks will soon be providing customers with more financial information.
President Obama's criticized Wall Street traders for taking big risks.
The Bank of England’s Financial Policy Committee (FPC) will soon have the power to force banks to adopt lending practices aimed at preventing an overheated housing market, reports the BBC.
U.S. federal prosecutors are close to bringing charges against Credit Suisse and BNP Paribas in two unrelated cases, the New York Times reports.
The firm will continue to operate as a wholly-owned subsidiary of Scotiabank.