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‘We must acknowledge what’s happening’ – the hidden devastation of financial abuse | Commonwealth Bank Australia: Next Chapter

‘We must acknowledge what’s happening’ – the hidden devastation of financial abuse | Commonwealth Bank Australia: Next Chapter

Warning: this article contains details that some readers may find distressing.

Six years ago, Jane was able to escape from domestic violence. She had been working tirelessly to support her children and a husband who claimed to have no money. When she left, she discovered he had been earning more than $250,000 a year.

“I had become so tired and so browbeaten just through the process of managing it day by day that I thought, how do I move myself out of this situation?” she says. “It took so much energy to actually pick myself up and take my children.”

Like many victims of family violence, Jane appeared on paper to have it together. She is a former dean of a university, and has a master’s degree. But in private, she was subject to years of financial, emotional and physical abuse that left deep scars on her family.

“I had to stop working because I had a traumatised daughter,” Jane says. “Even now, she still has moments where her trauma becomes so much it is unmanageable. The impact of the financial abuse permeates through everything.”

Australia’s domestic violence laws repeatedly fail victims of abuse. The understanding and management of trauma – suffered by parents and children – is lacking.

For Jane, financial abuse meant she had no choice but to work herself to the bone, frightened by the fallout if she didn’t. Her solicitor husband had withheld his high earnings and left Jane to manage the strain of supporting the household.

“Psychological abuse and financial abuse are part of the same cycle,” she says. “I actually collapsed and had to go to hospital because I had absolutely flogged myself, working incredibly hard with two small children. After we separated, and I received the child support statements, I realised that while

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Stock Market Today With Jim Cramer: JPMorgan Is the Best Bank

Stock Market Today With Jim Cramer: JPMorgan Is the Best Bank

Stocks were lower Tuesday as investors were discouraged by a stalemate over fresh government aid and bank shares declined following earnings reports.

The Dow Jones Industrial Average fell 84 points, or 0.29%, to 28,753, the S&P 500 was down 0.38% and the Nasdaq declined 0.02%.

TheStreet’s Katherine Ross discussed breaking news in the stock market on Street Lightning. Cramer spoke about the earnings of both Citigroup and JPMorgan as well as the impact of the restructuring at Disney.

JPMorgan: Buy Or Sell?

JPMorgan Chase & Co.  (JPM) – Get Report posted stronger-than-expected third-quarter earnings Tuesday as the bank set aside a much lower amount to cover ad loans amid an improving domestic economy.

JPMorgan CEO Jamie Dimon also said the bank could resume its share buybacks in the first quarter of next year, depending on changes to the Federal Reserve’s cap on shareholder returns, which was extended until the end of 2020 earlier this spring.

Cramer said he didn’t see a lot of growth in JP Morgan. “They’re doing well. They’ve got the fortress balance sheet. They’re without a doubt the best bank. But I think they’re not going to have anything near what Goldman has. Goldman is a training operation.”

Citigroup: Buy Or Sell?

Citigroup’s  (C) – Get Report earnings for the three months ending in September were pegged at $1.40 per share, down 32.3% from the same period last year but firmly ahead of the Street consensus forecast of 93 cents per share. Group revenues, Citigroup said, fell 6.8% to $17.3 billion, edging just ahead of analysts’ forecasts of a $17.2 billion tally.

Cramer said Citigroup is perceived as being a dark horse. “It yields 4.6%. It has a $71 tangible book value. It’s seemingly impossible that you’re going to have such a bad

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Regions Bank Announces Disaster-Recovery Financial Services Following Hurricane Delta

Regions Bank Announces Disaster-Recovery Financial Services Following Hurricane Delta

Deferred payments and additional offers available as recovery moves forward.

Regions Bank on Tuesday announced a series of financial services, including payment extensions and the waiving of certain fees, to help people and businesses in portions of Louisiana1 that were impacted by Hurricane Delta.

This press release features multimedia. View the full release here:

Regions Bank is ready to serve people and businesses in southern Louisiana that have been impacted by Hurricane Delta. (Photo: Business Wire)

“In addition to the services we’re announcing today, Regions Bank is ready to offer financial advice and guidance based on our experience with disaster recovery,” said Steve Nivet, regional consumer banking executive for Regions Bank. “We encourage clients to visit our branches, consult or give us a call to let us know about your individual needs. We have worked with clients through many natural disasters, including Hurricanes Laura and Sally. And we are here – ready to serve – as we recover from Hurricane Delta together.”

Disaster-recovery financial services available for a limited time in impacted areas1 include:

  • No check-cashing fee will be assessed for FEMA-issued checks cashed at Regions branches in impacted areas.2

  • Regions will waive or refund fees charged by non-Regions ATMs for bank clients in impacted areas for 15 days beginning Tuesday, Oct. 13.3

  • Regions will waive ATM surcharge fees for non-Regions clients using the bank’s ATMs in impacted areas for 15 days beginning Tuesday, Oct. 13.4

  • One penalty-free CD withdrawal is available.5

  • A 0.50% interest rate discount is available on new personal unsecured loans.6

  • Payment extensions are available for current credit card holders. People in affected areas can contact Regions to discuss individual needs.7

  • Regions Mortgage Disaster Relief purchase and renovation loan programs are available.

  • Business loan payment deferrals will

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Bank Earnings Can’t Lift Sentiment

Bank Earnings Can’t Lift Sentiment

Duration: 01:59

Here’s why stocks couldn’t gain much traction Tuesday.

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JN Bank UK to address financial inclusion, de-risking

JN Bank UK to address financial inclusion, de-risking

KINGSTON, Jamaica — Earl Jarrett, chief executive officer of The Jamaica National Group, said its newest subsidiary company, JN Bank in the United Kingdom (UK), will seek to address financial inclusion for several unbanked or under-banked people in the UK, as well as pursue correspondent banking services for Caribbean banks in the future.

The bank is the first Caribbean-owned bank to be established in the UK.

Quoting the UK Financial Inclusion Report of 2017, Jarrett said there were some 1.23 million people in Britain who are underserved or not served by banks.

“Financial inclusion is not just a Caribbean problem. In the UK, there is a working paper on how they are going to improve on financial inclusion. It is estimated that four to five per cent of the working population does not have access to banking services and those are primarily persons who have small businesses; persons who don’t feel welcomed in the mainstream banking environment,” he pointed out.

“It is our hope that through the JN Bank, we will be able to provide banking services to those individuals, whatever their racial background or wherever they are from, so they too can achieve their personal objectives,” he said.

Jarrett was speaking at a virtual event to officially launch JN Bank in the UK on October 8. The launch follows the granting of a full banking licence by UK regulators to JN Bank last year.

The JN Group CEO informed that the bank will be digital with a physical branch in Brixton, South London that can be used for community activities after banking hours.

“Digitalisation is a true enabler of inclusion. It enables everybody to participate. It is not directly subjective. In fact, it does not look at you and make a decision on how you physically look but based

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