Bank liability towards municipalities in foreign exchange swap transactions – Risky speculative business despite municipal ban on speculation?

Renowned major banks and savings banks lead inexperienced treasurers and managers of municipal companies into an interest rate trap with billions in losses. This is a brilliant business for credit institutions – an estimated 40% of local authorities are affected.     Allegedly exclusive concepts from the bank product department   Speculation with foreign exchange […]

Insurers and banks settle dispute over aiding and abetting tax evasion with millions in fines

– Employees and customers are still surprised by international arrest warrants –   Insurers’ and banks’ agreement with judiciary does not prevent prosecution of employees Although some banks, as well as insurers, have settled their dispute with the US judiciary by pleading guilty to criminal charges, the individual employees involved remain under investigation. No employee […]

German statutory pension insurance and private foreign pension insurance for self-employed persons

– Why there are hardly any recommendable domestic products left for insurance intermediaries – The group of self-employed consists of about 1.2 million freelancers and about 3.0 million tradesmen. The freelancers are predominantly Compulsory members of one of the more than 90 pension funds or pension chambers. There, however, funded savings are proving to be […]

Lawyer for banking law in Munich

Banking law: errors in advice, credit traps and more As a lawyer for banking law, I know that a bank has been part of our daily life since our earliest childhood. Just remember your first savings book, which you probably got at primary school from the nice savings bank advisor next door. We withdraw money, […]

Insurance broker is liable for bank creditworthiness for investments after premium collection

The case: The BFI Bank has never been so broke as it is today. Industry insiders suspected this long before the official bankruptcy petition was filed in court. Lastly, the bank offered credit interest on account balances at a rate far above the market rate, and linked this to a necessary purchase of BFI shares. […]

Liability for real estate loans and equity financing with life insurance – banks, insurance companies and brokers are responsible for repayment

Life insurance policies for the repayment of construction loans The combination of several financial products (e.g. building loan and life insurance, real estate loan and building society contract) promises the investor additional income through possible interest rate differences or tax savings, and at the same time additional commission for the agent. However, it is not […]

Professional asset destruction – by product sellers in private banking

– How the wealthy and the very wealthy get ripped off by the bank(st)er -. It is not only the financial crisis that motivates wealthy investors to change banks or asset managers every three years or so. Client disappointment with investment banking product salespeople runs deep? Uncertainty and doubts about competence, but also the fear […]

Enforcement problems of German creditors and banks against US citizens

Gerd A. Zimmermann, Zimmermann Nielsen & Colleagues, Arizona – California – Germany ( Sebastian Schechinger, Law Firm Dr. Johannes Fiala, Munich ( I. Thematic introduction The difficulties encountered by German credit institutions in the USA in enforcing legally valid titles have not changed in the last ten years. Due to a lack of knowledge of […]

Careful when passing on: Here the heirs are threatened with bankruptcy!

Landauf and landab is spoken of the reform of the inheritance right, but hardly one wants to admit it, which there our government whipped clammy at changes by Bundestag and Bundesrat. The German firearms trade is traditionally a family business, established for several generations and inherited from father to son. In the 1960s, when the […]

Leveraged business: immediate annuity – bank loan – savings plan

Chance of high profit – but also high risks Leveraged transactions are in practice referred to by financial service providers as “savings annuity”, “savings annuity”, “lex- annuity”, “interest rate differential transaction”, “loan-financed annuity”, “immediate annuity”, “leveraged annuity”, “guaranteed annuity”, “loan-financed life insurance”, “leveraged life insurance”, “fixed loan with repayment substitute”, “leveraged pool”, “loan-financed investment”, “fixed […]