15 global banks' legal costs still mounting: Moody's
Dublin
THE world's biggest banks, including Deutsche Bank AG, JPMorgan Chase & Co and Goldman Sachs Group Inc, will probably continue to pay for their past sins, according to Moody's Investors Service.
The three lenders are among a group of eight global banks facing "high risk" litigation tied to alleged misconduct such as the rigging of currency markets and sales of faulty mortgage-backed securities, Moody's said in a report on Tuesday. The consequences could include "substantial costs" and criminal proceedings, the ratings company said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Seventh money laundering accused to plead guilty on May 23
DBS hires chief of Ping An’s tech group to fix outage issues
Indian banks to step up IT spends as regulatory scrutiny rises
Swedish central bank lowers key rate, sees two more cuts this year
UOB CEO ‘cautiously optimistic’ on 2024; Q1 profit down 1.6% to S$1.49 billion
Australia lending rules make banks go ‘too hard’ on due diligence: Westpac