Banco Santander

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Vatican Plans Major Overhaul of Secretive Bank

Pope shakes up management at little-regulated Vatican bank

(Newser) - The Vatican bank—so secretive it makes Swiss bankers seem chatty—is getting a major revamp as part of Pope Benedict XVI's campaign for transparency. Italian economist Ettori Tedeschi has been appointed the new chief executive—replacing someone who's been in the post 20 years—and the bank's supervisory board... More »

Spanish Bank Offers $1.82B to Madoff Victims

The make-good may prompt other banks to offer compensation to fleeced clients

(Newser) - Spanish banking giant Banco Santander, whose clients lost nearly $3.1 billion in Bernard Madoff’s Ponzi scheme, has offered to pay back customers some $1.82 billion, reports Bloomberg. The bank is facing a lawsuit in US federal court, filed by investors who say it failed to exercise due... More »

More Banks, Celebs Losers in Madoff Scam

BNP Paribas, RBS join charities of Spielberg, Wiesel as Ponzi victims

(Newser) - Bernard Madoff’s alleged Ponzi scheme, which federal investigators say cost investors $50 billion, continues to claim more victims, reports the Wall Street Journal. Spain’s Grupo Santander and France’s BNP Paribas said yesterday they’re on the list, as are charities involving Nobel laureate Elie Wiesel and director... More »

SEC Opens ABN Amro Insider Trading Probe

European banks' transactions ahead of merger under scrutiny

(Newser) - The US Securities and Exchange Commission has opened an inquiry into possible insider trading surrounding last year's takeover of Dutch bank ABN Amro. Holland's Financieele Dagblad reports that Fortis, Barclays, Santander, and Royal Bank of Scotland—which eventually won the bidding—have been asked for information about trading in ABN... More »

Banks Go Dutch on ABN Buy

Royal Bank of Scotland consortium expected to succeed with hostile bid

(Newser) - The race to buy Dutch bank ABN Amro is in the final stage—with a consortium led by the Royal Bank of Scotland apparently on the inside track ahead of  Barclays. The consortium has already won agreement from ABN and the Dutch government, but has yet to raise the $99... More »

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