finance

Financial distress has afflicted numerous local banks IN Cameroon, many of which have been closed down by the regulatory authorities or have been restructured under their supervision. In Cameroon banks such as the B.I.C.I.C. Meridian B.I.A.O. Cameroon Bank were closed Many more local banks were distressed and subject to some form of "holding action". Failed local banks accounted for as much as 23 per cent of total commercial bank assets in Cameroon. The cost of these bank failures is very difficult to estimate: much of the data is not in the public domain, while the eventual cost to depositors and/or taxpayers of most of the bank failures which occurred between the 1988 to 2004 period will depend upon how much of the failed banks' assets are eventually recovered by the liquidators. The costs are almost certain to be substantial. Most of these bank failures were caused by unprofitable loans. Areas affecting more than half the loan portfolio were typical o...

Most of us know what a bank is. We know that in order to better manage our financial life; we should have both a checking and savings account at a minimum. We also know their services are similar across the board for most banks. Some of these services include: o Accepting deposits o Making auto, home, and business loans o Reporting what you paid and earned o Issuing credit cards o Online bill payment o Providing investments The list can go on and on, but those are basic things most banks will offer. However, what vary from bank to bank are the terms and conditions. That is why everyone should consider their unique needs and then select the bank that best meets those needs. Comparing Your Choices There are national, regional, and local community banks around the country. These banks are further categorized into the following segments: o Commercial Banks o Savings & Loans (S&C) o Credit Unions o Mutual Funds and Brokerage Firms o Virtual (Online) Bank...

The first question that you may have in your mind: why you need to think to reclaim bank charges? You are certain that you are wrongly charged by the bank, but you are not sure whether the laws support you to reclaim bank charges, or whether you are right at your place when you go to reclaim bank charges? Well, you have the answers to all these questions. On 5 April, 2006, the Office of Fair Trading (OFT) concluded that default charges over £12 are automatically presumed to be unfair in terms of the Unfair Terms in Consumer Contract Regulations--it is noticeable here that unfair terms are legally unenforceable. These charges may include late payments on credit cards, unauthorized overdrafts, unpaid direct debits and standing orders, and missed payment fees on store cards and mortgages. So, if you think that you are wrongly charged by the bank, you are entitled to reclaim bank charges. This does not mean that charges below the £12 limit will never be deemed as unlawfu...