archiveUS bank

Currencies

Central Banks Reveal ‘Doubts’ About US Dollar Following Geopolitical Tensions – Here’s Which Currencies They’re Shifting Toward

A new survey of central banks suggests growing skepticism about the future of the US dollar and its role in the global economy. Analysts from the Official Monetary and Financial Institutions Forum (OMFIF) – an independent think tank organization concerned with central banking, economic policy and public investment – say there is a global shift away from the dollar and into other currencies, primarily the euro and the renminbi. In the 2025 edition of its Global Public Investor report, which surveys 75 central banks around the world, OMFIF says there...
USA Property

Wells Fargo Sues JPMorgan Chase Over Soured $481,000,000 Loan, Says US Bank Aware Seller Had Inflated Income: Report

Two of the largest banks in the US are reportedly locked in a legal battle over a $481 million commercial property loan. Wells Fargo is suing JPMorgan Chase, the largest back in the US, over accusations it greenlighted a real estate loan even though it allegedly knew that the financial statements were fraudulent, reports Reuters. In 2019, JPMorgan issued a loan to real estate development and investment firm Chetrit Group to finance the purchase of 43 multi-family buildings with 8,671 apartments across 10 states. Acting as the investors’ trustee, Wells...