Banamex USA Fined $140M for AML Violations
The Federal Deposit Insurance Corporation today imposed a civil penalty of $140 million against Banamex USA for violations of the Bank Secrecy Act and anti-money laundering laws and regulations. The FDIC imposed the penalty on the same day that Citigroup, which purchased Mexico-based Banamex in 2001, said it would be ...
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Fed to China Construction Bank: Fix AML Controls
The U.S. Federal Reserve and the New York Department of Financial Services in an enforcement action this week ordered China Construction Bank and its New York branch to significantly improve its compliance operations. The bank and the branch have 60 days to jointly submit a written enhanced compliance program in ...
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News BriefFTC complaint accuses LA Fitness parent companies of blocking easy membership exits
The Federal Trade Commission filed a complaint against LA Fitness’ parent companies, citing difficulties canceling memberships, a month after a court blocked the agency’s click-to-cancel rule.
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ArticleJudge orders CVS to pay nearly $290M for Medicare false claims
CVS’s Caremark division knowingly overcharged Medicare for prescription drugs and must pay nearly $290 million, a Pennsylvania federal judge has ordered.