HSBC Names First Female CFO

MARKETS

Canada Makes Largest Rate Cuts

As the Bank of Canada (BOC) continues to rein in inflation, the BOC made its largest interest rate cut last week, lowering rates by 50 basis points to 3.75%.


COMPLIANCE

Goldman Sachs & Apple Get Fined

Tech giant Apple and Goldman Sachs were fined $89 million by the Consumer Financial Protection Bureau due to the failed Apple Card partnership.

The Bureau found the two firms had mishandled the Apple Card offering by failing to resolve many customer card disputes and having incorrect credit reports.


BANKING

HSBC Names First Female CFO

Amid new restructuring by its new CEO, Georges Elhedery, the British banking giant named its first female CFO, Pam Kaur.

She becomes the first woman to be in the CFO role in the bank’s 160 year history.

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