Financial news
Wells Fargo personal banker pleads guilty to being part of nearly $20 million drug money laundering scheme
There are two types of people in jail or prison: those who were wrongfully accused and victimized by an unjust system, and those who are guilty and whose punishment is just according to the system of law they have broken. The Bible has something to say to both the innocent and guilty who are in…
Trust used to be a word associated with banks,not anymore!
The loss of the family home through foreclosure or bankruptcy can be a time of blessing for the family, a time when parents and children “close ranks” and become more keenly aware of their love for one another and the important things in life—faith, family and community—and less focused on material things that have no…
WELLS FARGO CAUGHT SCAMMING CUSTOMERS AFTER DISSING CRYPTO AS SHADY
“Does Banking Contribute to The Good of Society?”HELL NO! Speaking to a group of Jews, Jesus says, “You belong to your father, the devil, and you want to carry out your father’s desires. He was a murderer from the beginning, not holding to the truth, for there is no truth in him. When he lies,…
Stephens Downgrades BankUnited (BKU) to Equal Weight
The Bible records two instances of Jesus cleansing the temple of money changers and those selling sacrificial animals. Jesus’ first encounter with money changers was at the beginning of His three-year ministry (John 2:14–16). He made a whip of cords and drove them out. The second time He confronted the money changers was the week before His…
Warren Buffett Calls Bitcoin “For Charlatans” Yet His Beloved Wells Fargo Has Paid $14.8B In Fines Since 2000 For Fraud And Abuse
Corruption is a state of decay, pollution, or incorrectness. In the Bible, corruption is one of the effects of sin that resulted from the fall of man. In the beginning, God created a perfect paradise, free of sickness, pain, and death. But when Adam and Eve disobeyed God by eating the forbidden fruit, sin entered…
Deutsche Bank former CEO Jain under probe for dividend tax-stripping: Report
Greed and a desire for riches are traps that bring ruin and destruction. “The love of money is a root of all kinds of evil,” and Christians are warned, “Do not put your trust in wealth” (see 1 Timothy 6:9-10, 17-18). Covetousness, or having an excessive or greedy desire for more, is idolatry. Ephesians 5:5 says, “For of this…
Banks Get a Failing Grade on Guns and Banking!
Guns Down America, a gun-control advocacy group, has graded 15 banks based on their support for the gun industry, Tiffany Hsu of the NYT reports. Most received dismal appraisals. Advocacy group grades banks as failing on guns • “Six of the banks, including JPMorgan Chase and Wells Fargo, received failing grades. Citigroup earned the highest one, a…
The Six Megabanks have not skipped a beat when it comes to committing fraud, market manipulation, and other abuses against their clients, investors, and the financial markets themselves.
Paul’s charge to us in Romans 13:8 to owe nothing but love is a powerful reminder of God’s distaste for all forms of debt that are not being paid in a timely manner (see also Psalm 37:21). At the same time, the Bible does not explicitly command against all forms of debt. The Bible warns against debt, and…
Deutsche Bank’s Impending Auf Wiedersehen Will Hurt Americans
Greed refuses to be satisfied. More often than not, the more we get, the more we want. Material possessions will not protect us—in this life or eternally. Jesus’ parable of the rich fool in Luke 12:13–21 illustrates this point well. Again, money or wealth is not a problem. The problem is our attitude toward it. When we…
Banks Do Not Always Command The Public’s Trust
Banks are running out of time to regain public trust Isaiah lived in a time when Judah was struggling under the weight of injustice: “Justice is driven back, / and righteousness stands at a distance; / truth has stumbled in the streets, honesty cannot enter. / Truth is nowhere to be found, / and whoever…