Intermediary Bank

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How does a bank earn billions?

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July 8, 2021
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Banks have grown increasingly profitable in recent years, and they have also come under increasing scrutiny for the way they manage the billions of dollars that go into them each year.In an article for the Financial Times, journalist Adam Davidson says that while some banks may be making money on the back of high-risk clients, many are doing so at

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FINRA fined $1.9 million for selling access to financial intermediaries

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June 17, 2021
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CTFCC, a registered intermediary program created by the Financial Institutions Supervisory Agency (FINRA), has agreed to pay a total of $1,917,821 in fines and penalties to settle a federal lawsuit alleging the agency sold access to its clients to third parties.The settlement came as a result of a class action lawsuit filed by former CTFACS whistleblower Thomas Hays in 2015.Hays

Intermediary Bank

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How does a bank earn billions?

FINRA fined $1.9 million for selling access to financial intermediaries

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