Banks step forward for financial crisis settlement talks

In light of JPMorgan’s $13 billion tentative settlement deal, global banks are approaching the New York attorney general about negotiating settlements their own charges, reports the Financial Times.

Read: JPMorgan tentatively agrees to $13B settlement

Attorney general Eric Schneiderman told FT that other banks have expressed interest in settling to him, but declined to say which institutions spoke to his office.

He also views JPMorgan’s tentative deal as “a template for future settlements,” FT reports.

Read more here.

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Banks need more cash to survive a crisis, says Fed

HSBC ordered to pay $2.46B in class-action suit

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The staff of Advisor.ca have been covering news for financial advisors since 1998.