London - The Bank of England is to face legal action over its supervision of collapsed Bank of Credit and Commerce International following a ruling in Britain's House of Lords on Thursday. The ...

(Robert Giroux/AFP/Getty) On this day in 1991, regulators in seven countries, including the U.S., staged a coordinated strike to shut down the Bank of Credit and Commerce International. Then one ...

This type of credit letter has become a routine part of international transactions, which often involve shipping large quantities of goods with a promise of payment from a foreign bank when the ...