Thursday, December 4, 2025
Wednesday, December 3, 2025
Tuesday, December 2, 2025
Monday, December 1, 2025
Saturday, November 29, 2025
Friday, November 28, 2025
As Slovenia Inherits UNSC No Press Answers on Crises as Bans Inner City Press Like Guterres
by Matthew Russell Lee, Patreon Book Substack
UN GATE, Nov 28 - The UN Security Council presidency for December is being taken over by Slovenia - while Inner City Press remains banned from the UN, despite its June 19, 2025 application.
On November 26 Inner City Press wrote to the Slovenian mission seeking access to the December 1 "press" conference in the UN of Ambassador Samuel Žbogar in order to ask questions about items on the UNSC's agenda:
"I have questions to ask on what you will do this month about DPRK, Gaza, UNRWA and Rwanda, Kashmir, DRC, Greenland, Sudan, Ukraine, DRC and Rwanda, about the SDNY indictment involving Turkey's Mission to the UN as well as the coups in Gabon and Niger and the conflicts in Ukraine, Ethiopia, Cameroon, Yemen and Libya - and on ongoing cases of sexual abuse and exploitation by UN peacekeepers, and Missions' abuses in NYC, on many of which Inner City Press first reported - including its current scoops on Colombia, DRC, Libya and Somalia. And most recently South Sudan and UNECA, and the verdict against BNP Paribas on Sudan."
No answer, even as November 28 ended - only an autoresponder from Ursa Ponikvar, "I am out of the office until 28.11.2025 - meanwhile UNSG Antonio Guterres' spokesman Stephane Dujarric has said Žbogar "press" conference is only for those allowed into the building.
Inner City Press on June 19 applied to the UN for access, as it gives 100s, to cover the UNGA week. Inner City Press has a NYC Press Pass and writes about the UN. From Sierra Leone and its UN Mission, nothing.
Watch this site.
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As UBS Bid to Convert to US National Bank and Be Holding Co Opposed Dismissive Reply
by Matthew Russell Lee, Patreon Book Substack
SOUTH BRONX/SDNY, Nov 18 – Amid the FDIC's bid to eliminate public notice of and public comment on branch applications, UBS -- Union Bank of Switzerland -- is trying to convert to a national bank in the US and become a bank holding company.
On November 11 Fair Finance Watch filed opposition to the Federal Reserve Board and to the Office of the Comptroller of the Currency:
This is a timely first comment on the applications by UBS Group AG and UBS AG, both of Zurich, Switzerland, and UBS Americas Holding LLC and UBS Americas Inc to become bank holding companies by acquiring UBS Bank USA, Salt Lake City, Utah, upon the conversion of UBS Bank USA from a state-chartered industrial bank to a national bank.
UBS, beyond its involvement in predatory subprime lending - see, e.g., "UBS to pay $300 million to resolve US mortgage securities cases," August 4, 2025 - has numerous other compliance scandal on which public hearings should be held, on this application and possible plan to relocate to the US.
There is tax evasion and retaliation against whisteblowers: “France: UBS fined in France for harassing whistleblowers”, 10 March 2025 The Swiss bank UBS was fined €75,000 (CHF71,410), the maximum penalty, in Paris on Monday for moral harassment by its French subsidiary of two whistleblowers, who had denounced the tax evasion system organised by the bank. UBS Europe, which absorbed the French branch, was also ordered to pay €50,000 in damages to Nicolas Forissier, the former head of internal auditing. However, the bank was acquitted of witness tampering and obstructing the health, safety and working conditions committee. According to Forissier’s lawyer, William Bourdon, this is the first time in France that a whistleblower has obtained a conviction against his former employer. … At the hearing, the public prosecutor had requested a maximum fine of €225,000 for the three offences. … In the main case, UBS France was definitively acquitted in 2021 for complicity in laundering tax fraud, but fined €1.875 million for complicity in illegal canvassing. However, the case against the parent company, UBS AG, continues. In 2019, it was fined a record €3.7 billion, plus €800 million in damages, for setting up a “system” to “facilitate” tax evasion by wealthy French taxpayers between 2004 and 2012. On appeal in 2021, following a change in case law, the penalty was reduced to a total of €1.8 billion. And in 2023, the Court of Cassation definitively confirmed the bank’s guilt, but cancelled the penalties and damages, ordering a new trial to re-examine them.
There are human rights - and managerial - issues: the Society for Threatened Peoples Switzerland (STP) filed a specific instance against UBS Group AG (UBS) at the Swiss NCP. The complaint concerns the bank’s financial ties with Hangzhou Hikvision Digital Technology Co. Ltd. (Hikvision), a provider of modern surveillance technology that has played a key role in the mass surveillance of the Uyghurs and other Turkic minorities in Xinjiang, China. Also involving private prisons in the US.
There are managerial factor issues, particularly on an initial application to become a US bank holding company. Fair Finance Watch hereby timely requests hearings, and the denial of these UBS applications. This comment period should be extended, evidentiary hearings should be held; and on the current record, the application should not be approved.
On November 25 UBS through Sullivan & Cromwell submitted a dismissive response, stating that " FFW criticizes UBS for business relationships with certain clients (e.g., private prisons). The Board has disregarded various comments based on abstract socio-political goals in connection with numerous prior applications, stating that those comments concern matters that are outside the scope of the limited statutory factors that the Board is authorized to consider when reviewing an application under the BHC Act. See Bank of Montreal, FRB Order No. 2023-01, at 13 n.35 (Jan. 17, 2023); BB&T Corp., FRB Order No. 2019-16, at 32 n.72 (Nov. 19, 2019)." Uighurs? Whistleblowers? UBS says none of it matter. Only its money. We'll see.
FFW notes in the FDIC's pending proposal RIN 3064-AG10: "the FDIC has received a limited number of public comments in response to subpart C applications.... Therefore, the FDIC is proposing to eliminate the public notice and related public comment period from subpart C and to make conforming changes to subpart A of 12 CFR part 303 of the FDIC Rules."
See, e.g., Sept 10, 2025: https://www.americanbanker.com/opinion/the-fdic-is-undercutting-a-key-element-of-the-cra
But now the Federal regulator(s) blithely propose(s) to eliminate public notice and public comment on banks' proposals to expand. The above-quoted reasoning is that few comments are filed. So, that is now changing.
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On Fifth Third Bid for Comerica CRA Protest Now Filing as Delaware Judge Sets Jan Hearing
by Matthew Russell Lee, Patreon Book Substack
SDNY/SOUTH BRONX, Nov 28 – As US bank regulators loosen rules - including the FDIC moving to eliminate public comment altogether on branch expansion applications - now more big banks are moving to get bigger.
On October 6, Fifth Third announced it will apply to buy damaged Comerica Bank. On October 8-9, it was opposed, to the Fed and OCC. On November 10, after a contemptuous response by Fifth Third's Kala Gibson, Fair Finance Watch spread the fight spread to five more states.
On November 18 the Federal Reserve put 15 multi-part questions to Fifth Third, ranging from branch closures and the Community Reinvestment Act to potential shareholder litigation and, at last, the Direct Express program. Inner City Press is putting the Fed's question letter on its DocumentCloud here, as it will Fifth Third responses - after FOIA if necesary, though 53 is supposed to sent them to Fair Finance Watch.
On November 28 FFW filed a fourth comment:
This is a fourth timely comment on, the proposal and applications by Fifth Third to Acquire Comerica. Beyond the lending disparities preliminarily identified thus far, and that the US government's Direct Express payment program was removed from Comerica, part of its weakening, and given to Fifth Third, there is now a serious lawsuit against the proposal.
In Delaware on November 26, Vice Chancellor Morgan T. Zurn ruled that Comerica must disclose additional board materials. The next hearing in is January 2026. The public comment period on this challenged proposal must be extended at least until then, to allow review of - and comment on - the materials that Judge Zurn has ordered to be disclosed. We have yet to receive any Fifth Third response to the questions put to it on November 18, and will timely comment on those upon receipt...
In the more than two weeks since, Mr. Gibson and Fifth Third have put in nothing, even as his/their response was proved to be false. This is a pattern.
In MSA after MSA, and nationwide, Fifth Third for African Americans has (many) more denials than originations, while the opposite is true for white borrows. The pattern is striking. In Texas in 2024, Fifth Third made 27 mortgage loans to whites - and other three to African Americans. In Delaware in 2024, Fifth Third made mortgage loans to whites - but none to African Americans.
This comment period should be longer than the bare minimum; evidentiary hearings should be held; and on the current record, the application should not be approved.
Their application to the Fed disclosed five states they are filing with: Michigan, Texas, California, Florida and Arizona. On November 10 Inner City Press filed with all five.
Fair Finance Watch filed:
Fair Finance Watch has long been concerned about Fifth Third. Fair Finance Watch has reviewed the just-released 2024 Home Mortgage Disclosure Act data of Fifth Third, not reviewed in any Community Reinvestment Act performance evaluation.
In state after state, Fifth Third for African Americans has (many) more denials than originations, while the opposite is true for white borrows. The pattern is striking, starting with two states Fifth Third and Comerica overlap in:
In Michigan, the state Comerica abandoned for Texas, Fifth Third in 2024 denied 249 applications from African Americans while making fewer, only 177loans - while it made fully 4189 loans to whites and denied only 1688 applications. This is disparate [there are more states]
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