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In many instances, bank fraud is a criminal offence. While the specific elements of particular banking fraud laws vary depending on jurisdictions, the term bank fraud applies to actions that employ a scheme or artifice, as opposed to bank robbery or theft. For this reason, bank fraud is sometimes considered a white-collar crime. [2]
Ally Financial Inc. (previously known as GMAC) is a bank holding company incorporated in Delaware and headquartered at Ally Detroit Center in Detroit, Michigan.The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and other related financing services such as installment sale and lease agreements.
An automated clearing house (ACH) is a computer-based electronic network for processing transactions, [1] usually domestic low value payments, between participating financial institutions.
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On June 17, 1858, the Bank of the Ohio Valley, founded by William W. Scarborough, opened in Cincinnati, Ohio. On June 23, 1863, the Third National Bank was organized. On April 29, 1871, Third National Bank acquired Bank of the Ohio Valley. In 1888, Queen City National Bank changed its name to Fifth National Bank. [3]
An investment bank may also assist companies involved in mergers and acquisitions (M&A) and provide ancillary services such as market making, trading of derivatives and equity securities, FICC services (fixed income instruments, currencies, and commodities) or research (macroeconomic, credit or equity research).
SoFi Technologies, Inc. (commonly known as SoFi) is an American personal finance and fintech company. [3] Founded at Stanford University in 2011, [4] it operates as a direct bank [5] and serves other financial institutions via its technology platform.
Bharat Connect (BBPS) is an integrated bill payment system in India offering interoperable and accessible bill payment service to customers through a network of agents of registered members as Agent Institutions (AI), enabling multiple payment modes, and providing instant confirmation of payment. [1]