@longtimelurker wrote:
@watch44 wrote:
@longtimelurker wrote:From http://www.bankinfosecurity.com/chase-a-6356/op-1
..."The penalty is based in part on JPMorgan Chase's failure to report suspicions about Bernard L. Madoff Investment Securities LLC to U.S. law enforcement and regulators, despite having alerted United Kingdom authorities in the months prior to Mr. Madoff's arrest," the OCC says. FINCEN fined JPMorgan Chase for willfully violating the BSA by failing to report Madoff's fraudulent investment scheme.
The LIBOR stuff was much more significant though.Chase alerted UK authorities but not the US? I don't know what to think about that. They sorta did the right thing.
As far as the LIBOR scandal, I follow some finance guys on Twitter, and even when this was hitting the fan, I didn't really get it. Well, google is working fine...
http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9360580/Barclays-hit-with-290m-fine-...
http://webcache.googleusercontent.com/search?client=opera&q=cache:http://online.wsj.com/article/SB10...
http://www.businessinsider.com/infographic-the-libor-scandal-explained-2012-7
But I still don't get who this really hurt. The last BI link with the infographic says public institutions were hurt because they didn't make as much on their investments as they could have. But even then, institutions making extra profit off of other institutions (even public ones) doesn't really budge my rage meter. I guess I'm just a heartless proletariate.
With the manipulation, at least some mortgage rates were higher than they otherwise should be (since LIBOR is the most widely used index). I think part of the rage is just that something you might have thought was "real", which determines a lot of consumer index rates, was basically being manipulated by the banks. Perhaps not too much of a surprise!
But if everybody's costs for loans goes up at the same time, wouldn't it basically be a wash since I assume even bankers get home loans?
Updated: I received the denial letter yesterday 06/12/2014. The reasons are
- Failed scores cutoff
- Too many recent inquiries
- Excessive balances as reported by the credit agency.
They pulled EX on 06/04/2014 and listed my score as 647 on the letter.
To be honest, I felt relief with the denial since I read some bad reviews about them 
But I think my EX score was a little low.
@duyen28262 wrote:Updated: I received the denial letter yesterday 06/12/2014. The reasons are
- Failed scores cutoff
- Too many recent inquiries
- Excessive balances as reported by the credit agency.
They pulled EX on 06/04/2014 and listed my score as 647 on the letter.
To be honest, I felt relief with the denial since I read some bad reviews about them
hmm... they seem to be trying to break into the super prime market or something... I thought I read someone over a 720 was denied too.
that's off the list of a card i want!
@rudy0720 wrote:Why would you want a card from a Spanish bank known for sticking it to Sub-prime customers?
me? I like their introductory 0% on BT and purchases