All Bank of America articles – Page 2
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Article
‘FinCEN Files’ report casts compliance officers in unfair light
The BuzzFeed “FinCEN Files” investigation purportedly uncovered evidence of a catastrophic, international collapse of internal controls within the world banking system. But that argument is misleading, to the point of being disingenuous.
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Article
Credit to JPMorgan Chase in this week’s banking-themed naughty/nice list
JPMorgan Chase, Danske Bank, Deutsche Bank, and Bank of America all either “Nailed It” or “Failed It” this week.
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Article
Big banks start to report CECL impacts
Fourth-quarter earnings calls of large U.S. public financial institutions provide insights into FASB’s current expected credit loss (CECL) standard.
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Article
IBM, BoA collaborate on financial services-ready public cloud
IBM announced it has designed the world’s first financial services-ready public cloud and is welcoming financial services institutions and their suppliers to join. Bank of America is already on board.
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Article
Banks finalize CECL prep, but others have work to do
Big banks are making progress in preparing for CECL, but non-bank operating companies are likely to face a heavier lift as they approach the fourth quarter.
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Article
Merrill Lynch to pay $25M to settle metals ‘spoofing’ claims
Merrill Lynch Commodities will pay a combined $25 million to resolve a government investigation into a multi-year scheme to mislead the market for precious metals futures contracts.
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Blog
Banks form industry consortium to transform third-party risk management
A consortium of leading financial institutions—including American Express, Bank of America, JPMorgan Chase, and Wells Fargo—announced the formation of TruSight, a company designed to combine best practices and simplify the process of conducting third-party risk assessments of suppliers and partners across the financial services industry.
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Blog
BofA Moves Compliance From Legal to Risk Management
Image: Bank of America has moved its compliance function out of the legal department and into its risk-management organization, reporting to Chief Risk Officer Geoff Greener (left). The compliance shuffle comes as bank regulators continue to prod financial firms to do a better job of integrating compliance efforts with risk ...
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