Posts tagged "LIBOR"
Union Launches Radio Ad Campaign about Deutsche Bank's Casino Ownership

Union Launches Radio Ad Campaign about Deutsche Bank’s Casino Ownership

In a 30-day radio ad campaign launched today and a letter to Governor Brian Sandoval, the Culinary Workers Union Local 226 is calling on Nevada gaming regulators to enforce the highest ethical standards for the state’s most important industry. The Culinary Union is concerned that Deutsche Bank has not gone through the state’s non-restricted licensing process or a suitability review for its 25 percent ownership stake, through a subsidiary, in Station Casinos. {read more}

Las Vegas Gaming Workers Call on Nevada Gaming Commission to Investigate Deutsche Bank

On August 20, members of the Culinary Workers Union Local 226 attended the Nevada Gaming Commission meeting to demand that Deutsche Bank be called forward for a suitability hearing. “My job depends on the ability of the Gaming Commission to protect the integrity and stability of Nevada’s gaming industry,” said Yuriko Garcia, a server at SLS Hotel and Casino. “We respectfully ask the Gaming Commission to call Deutsche Bank forward for a suitability review.” Deutsche Bank has been charged record fines from U.S. and U.K. regulatory officials for its role in manipulating LIBOR, a benchmark rate affecting trillions of dollars in financial instruments like mortgages, credit cards, and student loans. Although Deutsche Bank owns 25% of Station Casinos LLC and its 19 casinos in Nevada, it has not gone through the licensing process by Nevada regulators. At the Nevada Gaming Commission meeting today, a representative of the Culinary Union listed examples... {read more}
UNITE HERE Calls on Nevada Gaming Regulators to Investigate Deutsche Bank Role in Station Casinos

UNITE HERE Calls on Nevada Gaming Regulators to Investigate Deutsche Bank Role in Station Casinos

UNITE HERE’s Culinary Workers Union Local 226 has called on Nevada gaming regulators to investigate and determine Deutsche Bank’s suitability to be a casino owner following a guilty plea to criminal wire fraud by a subsidiary of the bank, the bank’s admissions of misconduct and its agreements to pay $2.519 billion in penalties to U.S. and British authorities to settle charges of rigging global benchmark interest rates namely the London Interbank Offer Rate (Libor). {read more}
Poll: Should Deutsche Bank consent to the release of BaFin's LIBOR probe results?

Poll: Should Deutsche Bank consent to the release of BaFin’s LIBOR probe results?

This month BaFin will complete its probe of LIBOR rate-rigging allegations at Deutsche Bank.  Opposition party politicians in Germany have asked BaFin to release the results of its investigation into Deutsche Bank’s alleged role in the LIBOR rate-rigging scandal.  BaFin claims that under German bank secrecy law it is unable to release the investigation without the bank’s consent.   {read more}