In the wake of one of the worst financial crises in history, governments across the world are moving in fits and starts to adjust financial regulation so as to stem systemic risk emanating from banking's big players.
Yet the effects of the 2008/2009 meltdown are still being felt across the global economy. The sector's problems show few signs of abating or diminishing in severity, and many critics claim that efforts to reform global banking have fallen far short of what's needed.
German financial regulator BaFin has formally ordered Deutsche Bank to do more to prevent money laundering and terrorist financing, taking the unprecedented step of appointing a monitor to oversee the lender's efforts.
Poor results and tumbling share prices: Germany's big banks are in trouble. Now Commerzbank is facing a possible ousting from the DAX index. Experts say the banks have dragged their feet in the face of digitalisation. A congress in Frankfurt hopes to find solutions.
Facebook is working on integrating more banking services via its messenger app, according to an article in the Wall Street Journal. The social media giant has approached major banks about getting customer data, including payment information. That’s something that doesn’t appear to have gone down well with several banks.