Amanda Norton, Wells Fargo’s chief risk officer since 2018, will retire at the end of June, according to a memo from CEO Charlie Scharf distributed internally.
2022
Posted inRisk Management
How to identify ultimate beneficial owners
As financial institutions continue to face enhanced public scrutiny and potential regulatory attention, it is important they allocate competent resources to their AML programs regarding beneficial ownership.
Posted inEurope
Former Swedbank CEO Birgitte Bonnesen charged with fraud
The Swedish Economic Crime Authority announced charges against Birgitte Bonnesen, Swedbank’s former chief executive officer, for fraud and market manipulation regarding the bank’s money laundering scandal.
Posted inRisk Management
Morgan Stanley agrees to $60M settlement over compromised personal data
Morgan Stanley has agreed to establish a $60 million fund to settle a class-action lawsuit filed by nearly a dozen customers regarding personal data that was compromised when the bank decommissioned two wealth management centers.
Posted inRegulatory Enforcement
Airbnb subsidiary to remit $91K for Cuba sanctions violations
Airbnb Payments, a registered money services business and wholly owned subsidiary of Airbnb, will remit $91,172.29 for apparent violations of sanctions against Cuba, OFAC announced.
Posted inRegulatory Policy
FDIC Chair Jelena McWilliams to resign after partisan feud
Jelena McWilliams will resign as chair of the Federal Deposit Insurance Corp. on Feb. 4, following a public clash with Democratic members of the board regarding bank mergers.
