Banks

Community Bank’s Innovative Strategy For Affordable Homes

March 3, 2025 Oscar Perry Abello, Next City. Create! Affordable Housing, Banks, Community Banks, Development, Home Ownership

When the pandemic hit, Mayra Ibarra moved back into her mother’s house to get some help with rent and childcare. There, she had to share a bedroom with her youngest son. Ibarra’s mother didn’t have internet access, but they quickly installed it so her son could attend kindergarten remotely. She bought him an old classroom chair, the kind with the desk attached to it, to keep in their bedroom. The setup worked for a few years, “but it felt like this is not my home, this is my mother’s home,” Ibarra says. “I wanted my home, my own space. Same for my kid.”

This Black-Owned Bank Is Disrupting Recidivism

February 23, 2025 Hibah Ansari, Next City. Create! Banks, Criminal Justice and Prisons, Prisoner rights, Prisoners, Washington D.C.

For 21 years, Halim Flowers was incarcerated in prisons across the country, often spending his time reading books about economics, banking and finance. It wasn’t until 2018, during his last few months in the D.C. Department of Corrections, that 44-year-old Flowers was able to validate what he was learning, meet bankers from D.C. based-Industrial Bank, and open a savings account from prison with one of the only banks in the country offering services to incarcerated people. “They were good teachers. They humanized us as incarcerated people,” says Flowers, who is now an artist, author and runs his own fashion brand.

‘Quantitative Easing With Chinese Characteristics’

February 9, 2025 Ellen Brown, Scheer Post. Create! Banks, China, Debt, Finance and the Economy, History, Infrastructure, Public Banks

China went from one of the poorest countries in the world to global economic powerhouse in a mere four decades. Currently featured in the news is DeepSeek, the free, open source A.I. built by innovative Chinese entrepreneurs which just pricked the massive U.S. A.I. bubble. Even more impressive, however, is the infrastructure China has built, including 26,000 miles of high speed rail, the world’s largest hydroelectric power station, the longest sea-crossing bridge in the world, 100,000 miles of expressway, the world’s first commercial magnetic levitation train, the world’s largest urban metro network, seven of the world’s 10 busiest ports, and solar and wind power generation accounting for over 35% of global renewable energy capacity.

Trump’s Tariffs Could Cause Huge Global Crisis

February 5, 2025 Michael Hudson and Ben Norton, Geopolitical Economy. Resistance Report Banks, Canada, China, Donald Trump, Finance, Finance and the Economy, Joe Biden, Mexico, Russia, Tariffs, Venezuela

The US designed the global financial system in a way in which the US dollar is at the center, and other countries need to get access to dollars to pay off their dollar-denominated debt, and to pay for imports. Yet, in order for this system to work, the US has to run a deficit with the rest of the world, a current account deficit, so other countries can get those dollars. But Trump wants to disrupt this. He says he wants to tariff other countries to reduce the US trade deficit, which means that other countries won’t be able to get the dollars they need to pay off their debt and to pay for imports.

How A Major Bank Cheated Its Customers Out Of $2 Billion

January 16, 2025 Judd Legum and Noel Sims, Popular Information. Educate! Banks, Capital One, Consumer Financial Protection Bureau (CFPB), Fraud, Lawsuit

An explosive new lawsuit filed by the Consumer Financial Protection Bureau (CFPB) alleges that Capital One bank cheated its customers out of $2 billion. According to the lawsuit, Capital One deceived and abused its depositors, baiting them with promises of high interest rates before switching the terms and paying little interest. The CFPB claims that Capital One purposefully hid the truth about these accounts from customers and concealed the availability of a new product that paid much higher interest. In 2012, Capital One acquired ING Direct, an online bank known for its generous interest rates.

Beating Wall Street at Its Own Game: The Bank of North Dakota Model

January 13, 2025 Ellen Brown. Create! Banks, North Dakota, Public Banks, Wall Street

North Dakota is staunchly conservative, having voted Republican in every presidential election since Lyndon Johnson in 1964. So how is it that the state boasts the only state-owned bank in the nation? Has it secretly gone socialist? No. The Bank of North Dakota (BND) operates on the same principles as any capitalist bank, except that its profits and benefits serve the North Dakota public rather than private investors and executives. The BND provides a unique, innovative model, in which public ownership is leveraged to enhance the workings of the private sector.

US Banks ‘Sabotaging’ Climate Targets By Financing Meat And Dairy

April 6, 2024 Cristen Hemingway Jaynes, EcoWatch. Educate! Banks, Big Ag, Carbon emissions, climate crisis, net zero, Report

A new study has found that 58 banks in the United States are “sabotaging” their own net-zero commitments by providing financing to meat, dairy and animal feed corporations. Research for the report, Bull in the Climate Shop: Industrial livestock financing sabotages major U.S. banks’ climate commitments, was conducted by U.S. environmental nonprofit Friends of the Earth and Profundo, a research group based in the Netherlands. From 2016 to 2023, $134 billion in loans and underwriting was provided to meat, dairy, food processing, animal feed and agri-commodity corporations by 58 U.S. banks, according to the report.

How To Go From Neoliberalism To A Productive, Sustainable Economy

February 10, 2024 Radhika Desai and Michael Hudson, Geopolitical Economy. Resistance Report Banks, Debt, Finance and the Economy, Neoliberalism

In our last show, which we entitled “The Debt Explosion: How Neoliberalism Fuels Debt Crises“, we promised that our next show would be about what the solution is, what is the solution to the myriad problems that we were describing. And that is indeed what we are going to discuss today. The solution, we feel, in the United States and in all countries that have gone down the road of neoliberalism and financialization involves a root and branch reform of the financial system. And this would be the foundation for the urgent economic transformation. It will be the single largest component of the economic transformation that so many of us realize we also badly need.

She Exposed One Of The World’s Biggest Banks; They Ruined Her Life

October 14, 2023 Chris Hedges, The Real News Network. Resistance Report Banks, France, Stephanie Gibaud, UBS, Whistleblowers

Warning signs of the instability of the global financial system abounded in the months leading up to the 2008 Lehman Brothers crash. Among these early signs were the astounding revelations about UBS, the world’s largest private bank, by Stephanie Gibaud, who was employee at the bank’s French division. Gibaud refused instructions given to her and other employees to delete all their company files. In doing so, she helped reveal a vast web of corruption and fraud linking UBS to a shadowy tax evasion scheme. More than 15 years later, Gibaud has endured harassment, professional ostracization, lawsuits, and threats.

War By Other Means: Short Selling JPMorgan Chase

August 9, 2023 Ellen Brown, Scheer Post. Create! Banks, China, Economic crisis, JP Morgan Chase

When the FDIC put Silicon Valley Bank (SVB) and Signature Bank into receivership in March, a study reported on the Social Science Research Network found that nearly 200 midsized U.S. banks were similarly vulnerable to bank runs. First Republic Bank went into receivership in May, but the feared contagion of runs did not otherwise occur. Why not? As was said of Lehman Brothers 15 years earlier, the targeted banks did not fall; they were pushed, or so it seems. One blogger shows how even JPMorgan Chase, the country’s largest bank, could be pushed — not perhaps by local short-sellers, but by China.

The US Economy – Surprisingly Resilient Or Potemkin Village?

June 10, 2023 Yves Smith, Naked Capitalism. Resistance Report Bailouts, Banks, Economic crisis, Service Economy, United States

For today’s episode, we want to talk about what’s going on in the US economy. Because when you look at the discussion that’s going on, you see a lot of contradictory narratives. On the one hand, you have people like Bank of America’s CEO Brian Moynihan, who said on Sunday that the country may face a mild recession later this year. You see a lot of major CEOs making similar predictions. By contrast, the Biden administration and much of the US mainstream media are insisting that the US economy is showing extraordinary resilience. So, Michael, I want to ask you, what is your analysis on the current state of the US economy?

Internal Wells Fargo Document Reveals Angst Over Union ‘Resurgence’

April 19, 2023 Josh Eidelson, Portside. Organize! Banks, Labor Movement, Unions, Wells Fargo, Worker Rights and Jobs

Wells Fargo & Co. leaders are privately expressing increased concern that a years-long effort to unionize the bank’s employees could soon start notching victories — and have made plans to spend millions addressing the “pain points” that can fuel organizing efforts. The lender has seen “an increase in organizing activity” by employees working with the Communications Workers of America, according to an internal PowerPoint presentation viewed by Bloomberg News. That comes amid what it called a broader “resurgence” of US union activity. “Public approval of unions has increased,” the document reads. “And a new generation of employees with activist experience successfully unionized parts of major companies with no prior history of unionization.”

Why The US Banking System Is Breaking Up

March 13, 2023 Michael Hudson, Geopolitical Economy. Educate! Banking Crisis, Banks, cryptocurrency, Finance and the Economy, Inflation

The breakup of banks that is now occurring in the United States is the inevitable result of the way in which the Obama administration bailed out the banks in 2008. When real estate prices collapsed, the Federal Reserve flooded the financial system with 15 years of quantitative easing (QE) to re-inflate real estate prices – and with them, stock and bond prices. What was inflated were asset prices, above all for the packaged mortgages that banks were holding, but also for stocks and bonds across the board. That is what bank credit does. This made trillions of dollars for holders of financial assets – the One Percent and a bit more.

The Caribbean Connection: Jeffrey Epstein And JP Morgan Chase

February 16, 2023 Thad Baltimore, Black Agenda Report Resist! Banks, Capitalism, Caribbean, Jeffrey Epstein, JP Morgan Chase, Sex Trafficking

With convicted sex-trafficker Jeffrey Epstein out of the way and his co-conspirator, Ghislaine Maxwell, on ice for 20 years, the mainstream media gets to do its favorite trick; ignoring, burying or otherwise memory-holing stories the ruling class doesn’t like. With convicted sex-trafficker Jeffrey Epstein out of the way and his co-conspirator, Ghislaine Maxwell, on ice for 20 years, the mainstream media gets to do its favorite trick; ignoring, burying or otherwise memory-holing stories the ruling class doesn’t like. Considering the laundry list of prominent men linked to Epstein, no one else has been held to account for what is arguably the largest sex-trafficking case of the decade.

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