3 Ways the Internet of Things Will Change Bank of America and Citigroup

From The Motley Fool –

“The future looks pretty amazing for bank customers and shareholders.

Wouldn't it be nice if there was an easier way to do business with your bank? Easier than online banking and mobile apps? More convenient that heading into the branch? A smarter, faster, and more efficient process to get a loan, make a deposit, and manage your money?

Likewise, wouldn't it be amazing if your favorite bank stock could post dramatically higher margins and better efficiency, and take on less risk?”

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20 global banks have paid $235bn in fines since the 2008 financial crisis

From International Business Times –

“Twenty of the world's biggest banks have paid more than $235bn (£151.71bn) in fines and compensation in the last seven years for breaching a variety of financial regulations, according to Reuters.

The financial institutions have been fined for misdeeds ranging from manipulation of currency and interest rate markets and compensating customers who were wrongly sold mortgages in the US or insurance products in Britain.

The main offenders were Bank of America, which faced by far the largest levy of around $80bn since 2008, and JP Morgan, paying up to $20m

In total, the banks were fined $141bn for mis-selling US mortgages and $44bn in compensation to UK customers.”

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Bank of America Small Business Owner Report, May 2013

From Bank of America 

“This video explains the key findings from the spring 2013 Bank of America Small Business Owner Report, a semi-annual study exploring the concerns, aspirations and perspectives of small business owners across the country.”