Month: March 2018

The head of the Crédit Municipal de Paris denies any personal enrichment

The Commission Bancaire considers that mistakes were made during Luc Matray’s term as head of the social bank. He should be dismissed at a general meeting on January 20th.

Luc Matray probably lives his last hours as number two of the Crédit Municipal de Paris (CMP). This bicentennial pawnbroker, owned by the Paris City Hall, is subject to a disciplinary procedure by the Commission Bancaire – the bank gendarme – for failing to regulate, particularly in the fight against money laundering. ‘money.

Tuesday, January 3, the supervisory board of CMP Bank – the banking subsidiary of the Municipal Credit, headed by Mr. Matray – decided to convene a general meeting on January 20. It could vote the revocation of the latter, in accordance with the wish of the Mayor of Paris, Bertrand Delanoe (PS).

Anticipating a political exploitation by the right, the mayor of Paris had made public, December 19, his intention to separate from the leader he had placed himself at the head of the Municipal Credit, in 2001, to straighten it. The establishment was in a state of bankruptcy.

Making Mr. Matray guilty of the breaches identified by the Banking Commission immediately, Mr. Delanoe’s decision is considered hasty by the banker’s entourage. The latter sees “a violation of the presumption of innocence and the rights of the defense”, while neither the Banking Commission nor the Paris prosecutor – who, for its part, opened a preliminary investigation, December 16, 2005 – have not made their findings.

A member of the supervisory board pointed out that disciplinary procedures are common: “Such a procedure is currently aimed at savings banks (for risk monitoring problems) without the departure of their boss, Charles Milhaud, being claimed.” “The ability of Mr. Matray to run a bank is not questioned,” he pleads.

The Ministry of Finance and the Banking Commission deplore for their part that the case was put on the public square. To ensure proper functioning of banks, disciplinary procedures are supposed to remain secret. “It gives the public the impression that a bank scandal is discovered, with whitening at the key, which is not the case, ” said a senior official.

Nevertheless, according to the Banking Commission, mistakes were made during Mr. Matray’s term of office. In its inspection report, issued at the end of 2004, the authority pointed out “shortcomings in internal control”. Three credits are criticized – one of 30,000 euros, the other two of 160,000 euros each – for having been granted to clients without the approval of the credit committee. A fourth was granted to Mr. Matray himself, at the end of 2004, at a rate of 8.96%: it is a four-month bridge loan, which reached 40,000 euros at the highest, and he allowed to acquire a second home in the province.

Money Laundering

The Commission Bancaire also notes flaws in the anti-money laundering system: seven suspicious cases, four of which concern pawnbrokers, should have been reported to Tracfin, the anti-money laundering body. The amount of these loans would not exceed EUR 4 million.

Mr. Matray presented to the Supervisory Board of CMP Banque, on Tuesday, a document drawing up his balance sheet at the head of the Municipal Credit: “In 2001, it is a disorganized company, which works with obsolete methods, most often without nets, he writes. (…) Between 2002 and 2005, it is recovering, making progress (…) in terms of governance, internal control, and prevention of money laundering, etc. ”

According to his relatives, the leader admits that he was able to commit certain mistakes, “through negligence and extra work”: “Never, he insists, was there any personal enrichment.”

Payday Loan – A Quick Solution To Immediate Financial Problems

Indeed, there are other benefits as well. The cash you pay as month-to-month repayment is income tax insurance deductible (though not all kind). Your credit history will improve as you are payback financial loans early. You can avail more low-interest rate if you decide to opt for payday loan consolidation- look at these guys.

There was a lot of negative information affecting banks, mortgage businesses and to a lesser extent, expense brokerage firms, such as sub-prime debacle, rising mortgages, increasing interest rates, and an excess stock of real estate.

Citigroup Inc., which operates since Citi, offers a list of banking products services and products to people and corporations. The organization is comprised of four sections: Consumer Banking, Global Credit cards, Institutional Clients Group plus Global Wealth Management.

Use Your Credit Cards, Help make Repayments, Clear Payments On a regular basis. The optimal credit cards you should have got are about 3 to six. The more credit lines you have the higher it will hurt your credit lots, mainly when you are accumulating excellent unpaid balance attracting significant interest on them. Pay off typically the outstanding amounts as much as you may but never clear at one time. Do it progressively with a routine and budget.

What about bills that come within? Where do you put your own bills after you get the postal mail? With the online five services that banks offer accessible, you can just take the bill and place up a scheduled transaction for it that will be sent out if you choose it to be sent. After that destroy the bill nearby need it for any record maintaining. If you can keep up with the postal mail and bills coming in having a system that is orderly, you are going to avoid a lot of late transaction fees and be able to use the cash you earn more effectively.

In case you go on vacation, have your current mail and newspaper distribution stopped and arrange to obtain your yard maintained. Add the post office, newspaper service, along with your friends or neighbors in order to ensure that your home seems as if it is occupied if you are gone.

Local dealers can also be offering cars on financial. This can be a good choice if you need an automobile quickly and don’t want the excessive hassle of paperwork. Many dealer financial products can be placed in just a few hours. This means you are able to go in, sort out a loan plus drive your new car aside in just a few hours. Again you need to do need to check around and evaluate deals to ensure you are making probably the most of your money.