The Bank of Ghana (BoG) is advising the country’s banks to guard against vulnerability to cyber attacks. “The growing threat of cyber attacks has never been more pressing. Recent instances of payment fraud demonstrate the necessity for industry-wide collaboration to fight against threats,” the central bank’s Second Deputy Governor, Mr Johnson Asiamah said. He was … Read more
Santander will pay about $26 million to settle charges it engaged in predatory subprime auto lending and loan securitization in the US states of Massachusetts and Delaware. Santander Consumer USA, a unit of the large Spanish bank, worked through a series “fraud dealers” who targeted default-prone consumers for car loans at high interest rates, said … Read more
US household debt surged $460 billion last year, the biggest increase in 10 years, and has nearly returned to the peak level before the global financial crisis, the New York Federal Reserve said Thursday. However, the increase in recent years has been driven by student debt and auto loans, rather than by the mortgages that … Read more