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(The Business Journals)   Bank's profits are down 18% now that they have to comply with anti-money laundering laws   (bizjournals.com) divider line 16
    More: Obvious, savings banks, account of profits, credit rating, laws  
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1258 clicks; posted to Business » on 18 Jan 2014 at 7:35 PM (12 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



16 Comments   (+0 »)
   
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2014-01-18 04:46:45 PM
Awwww...let me play for them a song of lamentation for their plight...
 
2014-01-18 04:47:33 PM
Tell me about it, before rape was outlawed, I was getting all kinds of action.

Thanks, Obama.
 
2014-01-18 05:16:46 PM
www.outsidethebeltway.com
 
2014-01-18 05:29:41 PM
my heart bleeds.
 
2014-01-18 05:36:39 PM

Rev.K: Tell me about it, before rape was outlawed, I was getting all kinds of action.

Thanks, Obama.


The "it's not rape if they have a bag and a gag on" escape clause really saves my love life.
 
2014-01-18 05:53:25 PM
Aww you think they're actually obeying the law
 
2014-01-18 07:24:50 PM
When did laws start applying to banks?
 
2014-01-18 07:46:06 PM
Money laundering pours well over a trillion dollars into US markets every year. If the feds totally ended money laundering, it would seriously hurt the economy. If they also totally eradicated marijuana (the country's largest cash crop) our economy would collapse.
 
2014-01-18 08:06:53 PM
www.economicpopulist.org
 
2014-01-18 10:54:19 PM
Compliant, just not to the Fed's liking. And not done well enough to cross that trip-wire asset threshold after the Hudson City merger.

The Fed has some nimble goalpost-moving machinery.
 
2014-01-18 11:10:45 PM

Rev.K: Tell me about it, before rape was outlawed, I was getting all kinds of action.

Thanks, Obama.


Hey man join the club, we meet on tuesdays.
 
2014-01-19 01:03:13 AM
Their profits are also down because of all the fines they're paying.
 
2014-01-19 06:17:53 AM
Banks could always start funding legal marijuana businesses to recoup some of that loss.

Bankers, why not use some of that lobbying power for the good of all instead just enriching your sociopathic selves?
 
2014-01-19 07:24:20 AM
So..a bank wants to grow, so it invests money in its infrastructure so it can be compliant with the Fed's rules for banks over a given threshold of size.  That results in lower profits for a while, but afterwards, the bank is better-equipped to handle more growth in the future.

Obvious, indeed.


Bucky Katt:  Their profits are also down because of all the fines they're paying.

What fines would those be?  The article doesn't mention that.
 
2014-01-19 08:54:58 AM
Break out the tiny violins.  The banks have no one to blame but themselves as they knowingly laundered money for the drug cartels.
 
2014-01-20 12:04:01 AM

runwiz: Break out the tiny violins.  The banks have no one to blame but themselves as they knowingly laundered money for the drug cartels.


Refuse a request from the CIA at your own peril.
 
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