Bank of Ireland apologizes for 'free money' tech glitch
Bank of Ireland apologized on Wednesday after fixing a technical issue that allowed customers to withdraw or transfer more money than was in their accounts.
Aug 16, 2023
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Bank of Ireland apologized on Wednesday after fixing a technical issue that allowed customers to withdraw or transfer more money than was in their accounts.
Aug 16, 2023
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The tidal wave of artificial intelligence (AI) barrelling toward many professions has generated deep anxiety among workers fearful that their jobs will be swept away—and the mental health impact is rising.
Aug 3, 2023
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Elon Musk is rebranding his Twitter platform as "X" and wants to create a super-app where users will do all their finances as well as their socializing.
Jul 26, 2023
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The minister charged with an overhaul of Japan's digitized system to assign a number to everyone living in the country has apologized, as doctors protested glitches with health insurance and local governments begged Thursday ...
Jul 6, 2023
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Financial services play vital roles in supporting economic activities. In Nigeria, though, a significant number of people don't have access to essential banking services.
Jun 28, 2023
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The EU on Wednesday took its first significant step towards launching a digital version of the euro, a controversial project that has been questioned by politicians and banks.
Jun 28, 2023
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The Bank for International Settlements (BIS) said Tuesday that decentralized cryptocurrencies are a "flawed system" and instead supported the development of a centralized alternative.
Jun 20, 2023
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Cashless societies, where transactions are entirely digital, are gaining traction in many parts of the world, particularly after a pandemic-era boom in demand for online banking.
Jun 8, 2023
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A full 675 million people worldwide still lack access to electricity, mainly in sub-Saharan Africa, according to a report published Tuesday by several international organizations.
Jun 6, 2023
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Can you trust Erica, or Sandi or Amy to increasingly control parts of your financial life without giving you inaccurate information or sending money to the wrong place?
Jun 6, 2023
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A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:
Because of the important role depository institutions play in the financial system, the banking industry is generally regulated with government restrictions on financial activities by banks varied over time and by location. Current global bank capital requirements are referred to as Basel II. In some countries, such as Germany, banks have historically owned major stakes in industrial companies, while in other countries, such as the United States, banks have traditionally been prohibited from owning non-financial companies. In Japan, banks are usually the nexus of a cross-share holding entity known as the "keiretsu". In Iceland, banks followed international standards of regulation prior to the recent global financial crisis that began in 2007.
The oldest bank still in existence is Monte dei Paschi di Siena, headquartered in Siena, Italy, which has been operating continuously since 1472.
A Bank's main source of income is interest paid on loans. A bank pays out at a lower interest rate on deposits and receives a higher interest rate on loans. The difference between these rates represents the bank's net income. Banks also generate non-interest income from service fees for Retail and Business banking products, transactional fees, or other non-traditional services such as Trust and Wealth Management consulting, Insurance, Cash Management services, Mortgage loan closing costs and points.
This text uses material from Wikipedia, licensed under CC BY-SA