Keywords: JPMorgan, Barclays, Absa Bank, ICBC, Citigroup, Discover, Sahabank, Hanoi Building Bank, Hong Leong Finance, Morgan Stanley, Banking And Finance Consumer Support Association

"You can’t help thinking it might actually be at least partly motivated by jealousy."
Bank of England governor Mervyn King, criticizing the New York DFS’ unilateral move against StanChart.


The following are notes from our Monday morning meeting.

JPMorgan will pay $100m to settle allegations it improperly boosted customers’ minimum credit card payments.

Barclays and South Africa’s Absa Bank formed a life insurance JV in Zambia.

Saudi Arabia approved ICBC’s bid to open a branch in the country.

Citigroup Japan will move its retail banking HQ to Tokyo's Shinjuku Ward in 2014.

Discover and ICBC plan to launch Diners Card in China.

Vietnam's Sahabank will take over Hanoi Building Bank.

Hong Leong Finance Singapore is suing Morgan Stanley over a failed investment product.

Nearly 1m bank employees will go on strike in India on August 22-23rd protesting moves to amend banking laws.

Banking and Finance Consumer Support Association president Denise Brailey accused Australian banks of falsifying paperwork to approve unqualified home loans.