4 Stories

Insurance Firm Aimed to Ditch All HIV Clients

Judge slams Fortis' 'reprehensible' conduct

(Newser) - Insurance giant Fortis used every underhanded method it could to purge HIV-positive clients from its books, according to newly released records. Documents reveal that the company—now known as Assurant—used an algorithm to target every policyholder diagnosed with HIV for a fraud investigation and canceled their policies on the... More »

Angry Shareholders Pelt Bank Chairman With Shoes

Fortis meeting turns ugly as investors start singing 'La Marseillaise'

(Newser) - An emergency meeting of troubled Belgian bank Fortis had to be suspended today after raucous shareholders raided the stage and pelted the bank's chairman with shoes. The bank is attempting to broker a sale to BNP Paribas, the French giant, but angry small shareholders booed, shouted down speakers and demanded... More »

Belgium Flails as PM Quits in Bailout Scandal

Replacing him tricky as deeply divided nation slips into recession

(Newser) - Belgium is seeking to emerge from its third political crisis in the space of a year after PM Yves Leterme stepped down yesterday in a banking scandal. His government was accused of trying to influence a court case involving the bailout of Fortis, one of the first big banks to... 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 »

4 Stories