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Ex-Vatican Bank President, Lawyer Charged With Embezzlement

PYMNTS

According to the AP, the Institute for Religious Works reported that Caloia and Luizzo were charged with embezzlement and self-laundering between 2001 and 2008. During that time, the bank disposed of a “considerable” portion of the real estate assets. The two were ordered to pay back the bank, noted the report.

Taxes 101
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A Decline in Personal Savings

TrustBank

The BEA calculates the personal saving rate by subtracting taxes from personal income to arrive at “disposable personal income” and then subtracts personal outlays. As of October, the US ranked 32 nd according to the Organization for Economic Co-operation and Development (OECD) data. What’s left is an estimate of personal savings.

US 52
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Consumer Lending: Should Banks Do It?

Jeff For Banks

Ever since we formed our company in 2001, this has been the case. Mortgage bankers and brokers own a significant share of market (although less than prior to the 2007-08 financial crisis). And Quicken Loans is in the top 5 HMDA market share in nearly every market we analyze. We lost auto loans to the indirect market.

Lending 60
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Fools Rush In: 37 Of The Worst Corporate M&A Flops

CB Insights

In a deal that aimed to open the Chinese coal markets, US heavy-equipment behemoth Caterpillar paid $677M in 2012 to acquire ERA Mining Machinery Ltd. The Chinese coal market is one of the biggest in the world and this deal looked like easy money. Date: September 3, 2001. Google and Motorola. Date: August 15, 2011. Price: $25B.

Google 76
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24 Lessons From Warren Buffett’s Annual Letters To Shareholders

CB Insights

It also owns 50 subsidiary companies that have 200 more subsidiaries themselves, including Geico (acquired in 1996), Dairy Queen (1997), and Fruit of the Loom (2001). You only find out who is swimming naked when the tide goes out.” ( 2001 ). Market volatility. In spring 2001, Cisco’s shareholders had lost a total of 28.6%

Omaha 78
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Tracking The Trends That Shaped 2020’s The Digital-First Economy

PYMNTS

You hear a lot about the new normal and stuff like that, but I really see it as banking at the speed of life,” said CarrieAnne Cormier , senior vice president of Retail Operations and Strategy at Avidia. The past year has been one of the most trying in recent memory for lenders as well as consumers. Preventing Financial Crimes.

Trends 259
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17 Of The Biggest Startup Frauds Of All Time

CB Insights

Mozido had ambitious plans to revolutionize mobile payments in key markets including India, Africa, and southeast Asia. Demonstrating sales is a necessity for retail startups, especially those operating in the intensely competitive food vertical. In 2001, MIT alumnus Albert Hu founded a venture fund called Asenqua Ventures.

Fraud 78