BANKING
TD Bank Licking Its Wounds
One of Canada’s banking giants, TD Bank, suffered its first quarterly loss in over two decades and is dealing with a $2.6 billion fine from U.S. regulators for failing in its anti-money laundering controls.
TD Bank CEO, Bharat Masrani, assures everyone that this is only a temporary setback and the bank is still well capitalized.
BANKING
Bank Capital Regulations Awaiting Election Results
Potential increases in bank capital reserves will need to wait until the U.S. Federal election is over to see a result.
The proposed changes in Basel III Endgame (not to be mistaken for Avengers Endgame) could handcuff larger financial institutions as they don’t feel a need to increase capital reserves.
INVESTMENT
Private Investor List Backing Musk’s X Takeover Revealed
The financial backers behind Elon Musk’s acquisition of X (aka Twitter) were finally revealed recently in court documents.
95 co-owners were listed in documents including some familiar names:
- Billionaire investor, Bill Ackman
- Sean P. Diddy’s investment firm
- and Crypto firm, Binance among others
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