||Bank disclosure and the Euro Crisis - a message from John Taylor, NCRC Washington D.C.
The European Crisis on Greek government bonds has puzzled the big audiences especially in Northern Europe. Many citizens bombarded by irresponsible tabloids assumed that their governments have lent enormous amount of money to Greece which these people are not willing to repay because they are either too lazy or too corrupt or just showing a mentality of irresponsible... [more...]
||Finland: New legislation strives to promote consumer equality
The Finnish Ministry of Justice is drafting a reform of the Non-Discrimination Act. In her statement to the Ministry, the Finnish Consumer Ombudsman said that the proposed extension in the scope of application of the Non-Discrimination Act promotes the implementation of consumers' basic rights and strengthens their position. The reform will make possible more extensive... [more...]
||BANK TRACK: Despite awards etc., the NGO reminds us that there’s no such thing as a “Sustainable Global Bank” as of yet!
There's no such thing as a "Sustainable Global Bank" just yet, says BankTrack “Sustainable Global Bank of the Year” Santander has invested EUR1 billion in the arms trade Friday, 14 June 2013 Press Release Santander, announced yesterday as the winner of the Financial Times and International Finance Corporation’s Sustainable Global Bank... [more...]
||Diversity in Banking - ECRC partner the New Economics Foundation has published a report on stakeholder banks to complement and rebalance the existence of private banks.
The NEF in its report puts a case to value different models of banking. It its report, four forms of Stakeholder Banks are identified (Cooperative Banks, Credit Unions, Community Development Finance Institutions (CDFIs),Public savings banks). 28 March 2013: Stakeholder Banks Stakeholder banks have both social and financial objectives, and make a major contribution to... [more...]
||EU - European Commission launched a Call to build the capacity of its user group. A pilot project only at this stage, but does this mean that policy makers see the benefits of investing...
Pilot Project – Capacity building of end-users and non-industry stakeholders in Union policy making in the area of financial services Call Nº: MARKT/2012/119/H 1. BACKGROUND AND PURPOSE OF THIS CALL 1.1. Context The financial services sector is a key component of the single market, crucial for the proper functioning of the European economy and for global... [more...]
||SUSTAINABILITY: An Introduction to the Brazilian Banking Sector and its Sustainability Practices
An Introduction to the Brazilian Banking Sector and its Sustainability Practices Amigos da Terra Amazônia Brasileira and BankTrack today release a new guide to the Brazilian banking sector, entitled: “An Introduction to the Brazilian Banking Sector and its Sustainability Practices”. This report is a part of the ‘Building BankTrack in BRICs project’, a major project... [more...]
||Bank transparenczy: ECRC UK partner CfRC welcomes BIS publication of individual bank data on SME lending but calls for local breakdown to be made available
CfRC calls for individual bank data on SME lending to be made available to Local Economic Partnerships The Centre for Responsible Credit has today welcomed the Department for Business, Innovation and Skills publication of individual bank performance in supporting small to medium enterprises through lending backed by the Enterprise Finance Guarantee but has called for... [more...]
||Bankrolling Climate Disruption: BankTrack announces a report on The Impacts of the Banking Sector's Financed Emissions
We are writing this email to notify you about a new report released yesterday by the Rainforest Action Network and BankTrack. The report, Bankrolling Climate Disruption: The Impacts of the Banking Sector’s Financed Emissions, spells out the swift action that the banking sector must take to account for and reduce its biggest impact on the climate: the emissions it... [more...]
||Report shows which financial institutions are irresponsibly investing in the nuclear arms industry.
Press release from ICAN (not a member of BankTrack) A groundbreaking report released today by the International Campaign to Abolish Nuclear Weapons (ICAN) identifies more than 300 banks, pension funds, insurance companies and asset managers in 30 countries with substantial investments in nuclear arms producers. View the report at www.dontbankonthebomb.com. The ... [more...]
||Sustainable finance: ECRC supporter Bank Track publishes a report warning of the shortcomings of the existing revisions being made to the new version of the Equator Principles.
BankTrack to Equator Principles banks; ‘get the Outside Job done’ Equator Principles update must lead to new Principles focused on people and planet Washington, October 23rd 2011 , for immediate release BankTrack, the global NGO network monitoring private sector bank operations, calls upon the Equator Principles Financial Institutions (EPFIs) to ensure that the next... [more...]
||Divide et Impera: Is the new European Banking Authority and its Stakeholder Group another Bank Lobbying institution in Brussels?
New Approach to Bank Lobbyism in Brussels? The European Union has generated billions from Member States for the rescue of banks. The European Union is also largely responsible for the deregulation of bank supervision and capital markets in the last 15 years. An important group of deputies from all parties in the European Parliament find that bank lobby is far too strong in... [more...]
||Finance Watch - European parliamentarians taking steps to build up the lobbying capacity of EU civil society. What role for ECRC?
A group of our European elected officials from a range of political families have put their weight and some initial financing to help make their initiative of creating a Finance Watch organisation become a reality for representatives of civil society. ECRC supports this initiative and invites all its coalition partners to share their ideas and expectations with regard to... [more...]
||CSR: SOMO study into the investment policy of European banks
The limited scope of Sustainable Asset Management This alarming example in the SOMO publication ‘Investing Responsibly: A Financial Puzzle’, which is published today, illustrates the need to seriously alter the way banks approach their asset management policy. The SOMO study into the investment policy of European banks reveals that the scope of the banks’ Corporate Social... [more...]
||Bank investment disclosure: ECRC supporter BankTrack calls upon banks to Close the Gap on investment policies
BankTrack calls upon banks to Close the Gap on investment policies New report evaluates quality of investment policies of 49 banks; more policies in place, overall quality below what is required Nijmegen, Netherlands, April 27, 2010 BankTrack, the international NGO network monitoring the banking sector, today presents Close the Gap, an extensive research project on the... [more...]
||Transparency and accountability - BankTrack calls for improved performance by banks on Equator Principles
Action, not words needed on Equator Principles BankTrack calls upon Citi, new chair of Equator Principles to take bold steps forward. Nijmegen, Netherlands, March 15 2010 BankTrack, the international NGO network monitoring commercial bank operations, today welcomes the take over by Citi of the chair of the steering committee of the Equator Principles. We congratulate Mr.... [more...]
||Bank-Rating by Customers - http://www.banks-ratings.com/ a dubious Website
The lack of benchmarks in assessing the quality of financial services extended by banks is notorious. Banks get their benchmarks from consultancies which often use the ServeQual yardstick where especially consumer feelings and opinions are taken into account. They then advertise very high degrees of content. It is obvious that such evaluations are not more than part of... [more...]
||EU-2020 Strategy: Stakeholders are having their say e.g. the Spring Alliance is organising a meeting.
On Monday 15 February the Spring Alliance is organizing a lunch briefing/brainstorming on the EU-2020 Strategy and further work in the framework of the Spring Alliance. It is in the Social Platform, Square de Meeus 18, Brussels, starts 12.30 and ends 14.30. There will be coffee, but please bring your own sandwiches. Please confirm your participation by sending a... [more...]
||EU CSR news end 2009
European Responsible Entrepreneurship Bulletin, Issue 15, December 2009 Young Innovations Europe “A fresh and exciting magazine created for and by young people interested in exercising positive leadership in their own communities in groundbreaking ways… Young Innovations Europe is a unique platform for young people in Europe to inform more, learn more, act more and hope... [more...]
||Corporate Social Responsibility: A collection of provider reports dedicated to CSR.
Below are links to a selection of Corporate Social Responsibility Reports from several financial institutions operating in some of the EU Member States as of end 2009. (click on the institutions below to see their latest CSR report). France BNP Paribas (also as an English version) Société Générale (also English version) Crédit Agricole (also English version) Banque... [more...]
||EU SELECTION OF EXPERTS AND COUNSEL: Recent report and criticism by EU lawmaker highlight the severe unbalanced approach of the European Commission to finding solutions, with evidence...
The EU executive has long consulted expert committees to better address the technicalities inherent in the application of EU legislation, via a practice known as "comitology", however, it is increasingly apparent that these expert committees are no longer comprised of an appropriate mix of government experts from each member state and representatives of civil society,... [more...]
||Irresponsible corporate lending - UK Treasury taken to court for RBS loans
The supporting network BankTrack has posted the following message highlighting the need for Banks (especially those that both culprits/victims of the financial crisis, and state owned financial institutions) to be responsible in their lending (and accountable too). Three UK groups (PLATFORM, World Development Movement and People & Planet) are going to be in high court in... [more...]
||G20 - Welcome step taken to stop banks fuelling corruption
The Global Witness sees some good news in what the G20 have agreed do. Concerned with corruption, banks have a role to play in combating this, especially in developing countries. The previous report, Undue Diligence: How banks do business with corrupt regimes, detailed how major banks including Barclays, HSBC, Deutsche Bank and Citibank were facilitating corruption through... [more...]
||ECRC and cooperation with BEUC – Judging from the renewed impetus given to protecting European consumers and the new strategies outlined by BEUC, we hope that our coalition’s...
BEUC has 42 Members: Of which a third (14 organisations) are ECRC partners There is therefore a good reason for us to ask these partners that they voice their demands within this umbrella organisation so that the management understands that: 1) BEUC should make an active commitment to cooperate in organising conferences on the issues of financial services for consumers... [more...]
||RESPONSIBLE CREDIT – The latest Dutch legislative efforts to improve domestic credit markets could be interesting for some of the other European countries to emulate
ECRC’s founding Dutch member Harro Norder from NVVK (Dutch council of municipal banks) shares with us the latest initiatives he and his bank have led in their efforts to make Dutch credit markets more socially responsible. LIMITED INTEREST RATES Over-indebtedness is strongly related to small loans with high interest rates. Financing cars, home video sets and so one are... [more...]
||INDIA: Commission suggests blueprint for alternative banking policy
An independent commission on Banking and Financial Policy today unveiled a blueprint for an alternative banking policy that aims at raising the rate of growth, making it more broad-based, equitable and inclusive through social banking means. The sailent features of the report include the revival of development finance institutions, move towards social banking by opening... [more...]
||CREDIT PRIZE - An example for bankers to follow. From micro-lending to social entrepreneurship, always putting the people first.
PIONEERING BANKER GAVE CREDIT TO THE POOR Muhammad Yunus, the recipient of the Nobel Peace Prize, became famous for creating microcredit, a system of small-scale lending that reaches borrowers considered too small or risky by conventional lenders. The Grameen Bank, which Mr Yunus founded in Bangladesh in 1976, lends tiny amounts - typically $200 or less, to borrowers,... [more...]
||How Do You Rate?; CUs Must Measure Underserved Outreach Efforts
Credit unions must begin to measure and grade themselves-and the movement as a whole-on their ability to reach out to low-wealth households, minorities, immigrants and Hispanics, according to one credit union advocate. During his remarks at CUNA's Future Forum here, Jim Drogue, VP of Operations for the Wisconsin Credit Union League, challenged credit union directors and... [more...]
||Breaking free; A guide to New Age banking
They're made out to be greedy and expensive but can we really live without banks? Jason Bryce and Ian Rogers explore the alternatives. CAN you live without a bank account? It's possible but may not be for everyone. Some readers may remember when a bank account was an option not a basic necessity. But during the past thirty years employers and our social security system... [more...]
||RESPONSIBLE CREDIT - Responsible Banking in Italy
Italian bank unions have agreed with the Italian bankers' association as well as with Banca INtesa in a special agreement on an ethical code of contact which not only protects labour relations but obliges both parties to "respect the dignity of clients, create responsibility, trust and transparence" through all employess of the bank. A special commission has been agreed... [more...]
||JP Morgan Chase Pulls Application for Energy Project Realtors claim victory; no letup seen in rift on banks, commerce
American Banker Wednesday, March 8, 2006 By Rob Blackwell WASHINGTON - JPMorgan Chase & Co. is the first casualty in the battle over commercial real estate development being fought between the National Association of Realtors and the Office of the Comptroller of the Currency. A spokesman confirmed Tuesday that JPMorgan Chase Bank withdrew its application at... [more...]
||House to Mull Regulatory Relief Bill : Financial Services Regulatory Relief Act of 2005 is scheduled to go before lawmakers
American Banker Wednesday, March 8, 2006 By Joe Adler The House is expected to consider a bill today to ease the regulatory burden on financial institutions. The Financial Services Regulatory Relief Act of 2005 is scheduled to go before lawmakers on the suspension calendar - a status that limits debate and does not allow additional amendments. The bill, which... [more...]
||US Industry, Agencies Get Close-Up View of Storm's Effects
American Banker Tuesday, March 7, 2006 By Damian Paletta NEW ORLEANS - Despite two days of meetings and high-profile speakers, perhaps the most memorable moments for the 200 bankers and regulators at a post-hurricane conference here last week were the times when no one was talking. On Wednesday and Friday, the Federal Deposit Insurance Corp. scheduled two-hour... [more...]
||Branching Out US Bankers Struggle To Contain Growth Of Credit Unions
By BERNARD WYSOCKI JR. March 7, 2006; Page A1 SALT LAKE CITY -- Harris H. Simmons is the banker credit-union executives love to hate. As some credit unions have used loosened rules to grow into multibillion-dollar institutions, Mr. Simmons has made it his mission to keep them in check. The chief executive of Zions Bancorp , who also leads the American Bankers... [more...]
||US Bankers on Gulf Coast Seek Help from Around the Country including purchasing the mortgages of storm-affected banks on the secondary market, creating more loan participations, and...
American Banker Friday, March 3, 2006 By Damian Paletta NEW ORLEANS - Gulf Coast bankers reached out to large institutions across the country Thursday, asking for various kinds of help to recover from last summer's hurricanes. At a conference with close to 200 bankers and regulators, local representatives told how outside banks could assist, including... [more...]
||Why Partnership Must Take Back Seat To Who Partner Is
Partnering with different organizations may be the key to successfully reaching out to the "unbanked"-but there are hidden risks in those partnerships. A recent study by the National Community Investment Fund's Retail Financial Services Initiative found that financial institutions that forged innovative partnerships were the most successful at serving the underserved, but... [more...]