Banking

8:57am

Mon May 20, 2013
Planet Money

Ask A Banker: Capital, Capital!

Originally published on Tue May 21, 2013 11:09 am

Paul Goyette Flickr

Hi, it's Ask a Banker! You should send us questions on email or Twitter, but this particular question, though timely, was made up by me, sorry:

Q. Should banks be required to hold much more capital as a safety net? Or should they be putting that money to productive use by lending it out instead?

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9:41am

Sat May 11, 2013
The Two-Way

Experts Marvel At How Cyber Thieves Stole $45 Million

Originally published on Sat May 11, 2013 5:00 pm

This week's massive cyber-heist was facilitated by the ease with which criminals have learned to hack the magnetic stripe on the back of ATM, debit and credit cards.
Timothy A. Clary AFP/Getty Images

With a haul of $45 million, it's being billed as possibly the biggest cyber-heist in history. But in reality, experts and authorities say, it was thousands of small but highly coordinated thefts.

As we reported on Thursday, federal prosecutors charged eight people with being the just New York cell of an operation that allegedly encompassed criminal cohorts in 26 countries.

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3:45am

Fri May 10, 2013
Business

Cyber Criminals Drain $45 Million From ATMs Around The World

Originally published on Mon May 13, 2013 11:13 am

Transcript

DAVID GREENE, HOST:

All right, prosecutors are calling it the biggest bank heist in New York City since the 1970s. They say a gang of cybercriminals drained $45 million from ATMs around the world.

Here's NPR's Joel Rose.

JOEL ROSE, BYLINE: United States Attorney Loretta Lynch says the eight men charged in New York were able to withdraw $2.8 million in cash in just one day, in February.

LORETTA LYNCH: This was a 21st century bank heist. But instead of guns and masks, this cybercrime organization used laptops and malware.

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1:17am

Fri May 10, 2013
All Tech Considered

Peers Find Less Pressure Borrowing From Each Other

Originally published on Fri May 10, 2013 6:10 am

iStockphoto.com

The Internet has managed to disrupt many industries, from publishing to music. So why not lending?

Google is teaming up with the nation's largest peer-to-peer lender. The search and tech giant is investing $125 million in Lending Club, which gets borrowers and lenders together outside the conventional banking system. Google's move and the actions of other big players reflect a growing interest in peer-to-peer lending.

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1:12am

Fri May 10, 2013
Planet Money

Why (Almost) No One In Myanmar Wanted My Money

Originally published on Fri May 10, 2013 5:50 pm

Lam Thuy Vo / NPR

When you arrive in Myanmar, you can see how eager the people are to do business. At the airport in Yangon, new signs in English welcome tourists. A guy in a booth offers to rent me a local cellphone — and he's glad to take U.S. dollars. But when I pull out my money, he shakes his head.

"I'm sorry," he says.

He points to the crease mark in the middle of the $20 bill. No creases allowed.

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