All Banking articles – Page 19
-
Article
Effective collaboration key to fight against financial crime
The Fintel Alliance—a partnership involving AML regulator AUSTRAC, Western Australia Police, and analysts from a handful of large banks—provides an example of the positive outcomes of collaboration in fighting financial crime.
-
Article
FINRA sets fine ranges for AML failures, removes limits on certain penalties
The Financial Industry Regulatory Authority increased penalties for member violations of securities rules, including removing upper limits on fines for certain instances of misconduct.
-
Article
Upheld ruling in Commerzbank compliance officer suit imparts discrimination lessons
A recent ruling against Commerzbank in a case brought by a compliance officer serves as reminder employers should not make “stereotypical” assumptions about what tasks pregnant female staff or those returning from maternity leave can perform, legal experts said.
-
Article
Barclays to pay $361M to resolve sales of unregistered securities
Barclays PLC and Barclays Bank agreed to pay $361 million to resolve allegations from the SEC the bank failed to implement internal controls to track the sale of $17.7 billion worth of unregistered securities transactions.
-
Article
ACP CEO to head sustainability at JPMorgan
Heather Zichal, chief executive of the American Clean Power Association, will depart the organization to become global head of sustainability at banking giant JPMorgan Chase.
-
Article
F&M Bank names chief risk officer
Farmers & Merchants State Bank announced the appointment of Eric Faust as senior vice president and chief risk officer.
-
Article
Fed recruits 6 large banks for climate scenario analysis pilot
Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Wells Fargo will participate in a pilot climate scenario analysis exercise organized by the Federal Reserve that seeks to enhance climate-related financial risk management efforts in the industry.
-
Article
U.S. Chamber, bank groups sue CFPB for expanding supervisory remit
A group of banking and business associations sued the Consumer Financial Protection Bureau and Director Rohit Chopra for overstepping their authority when the agency indicated it would begin actively searching for discrimination and disparate impacts during supervisory exams.
-
Article
Regions Bank to pay $191M for surprise overdraft fees
The Consumer Financial Protection Bureau ordered Regions Bank to pay $191 million for allegedly charging Illegal, surprise overdraft fees to customers that the bank’s compliance staff warned against.
-
Article
Compliance deficiencies highlighted in $1.8B crackdown on messaging apps
Eleven banks, investment firms, and their affiliates will pay a total of more than $1.8 billion in fines for “widespread and longstanding failures” in monitoring, maintaining, and preserving electronic communications by employees.
-
Article
Sterling Bank fined $6M by OCC over loan program lapses
Sterling Bank and Trust agreed to pay a fine of $6 million assessed by the Office of the Comptroller of the Currency for deficiencies in its former residential loan product.
-
Article
Credit Agricole to pay $1.1M to settle sanctions violations by 2 subsidiaries
Paris-based Crédit Agricole Corporate and Investment Bank will pay a total of approximately $1.1 million to settle charges its subsidiaries violated U.S. sanctions in five sanctioned countries.
-
Article
Deutsche Bank agrees to settle Jeffrey Epstein-related class action for $26.3M
Deutsche Bank agreed to pay $26.25 million to settle a class-action lawsuit filed by a group of the bank’s investors over anti-money laundering compliance failures and deficiencies related to certain clients, including Jeffrey Epstein and Danske Bank’s Estonia branch.
-
Article
Standard Chartered recruits chief risk officer from Societe Generale
U.K. bank Standard Chartered announced the appointment of Sadia Ricke as group chief risk officer, effective Feb. 1, 2023.
-
Article
Collateral damage aplenty in NYAG lawsuit against Trump Organization
The New York Attorney General’s lawsuit against former President Donald Trump is solely focused on penalizing his business and cohorts, but firms like Mazars and Deutsche Bank don’t come off well from a due diligence perspective.
-
Article
OnPoint promotes general counsel to chief legal officer
OnPoint Community Credit Union announced the appointment of Wendy Beth Oliver as senior vice president and chief legal officer.
-
Article
Danske Bank fined $1.8M over AML checks in Ireland
Danske Bank was fined €1.82 million (U.S. $1.82 million) by the Central Bank of Ireland for omitting customers from automated financial crime checks between 2010-19 and failing to notify the regulator.
-
Article
Prosperity Bank to pay $19K in first PPP lender false claims settlement
Houston-based Prosperity Bank will pay approximately $18,700 to resolve allegations it processed a Paycheck Protection Program loan for an ineligible recipient in what is believed to be a landmark False Claims Act settlement.
-
Article
Berkshire Hills Bancorp appoints chief compliance officer
Berkshire Hills Bancorp, the parent company of Berkshire Bank, announced the appointment of Ashlee Flores as executive vice president and chief compliance officer.
-
Article
Pioneer’s chief administration officer to head compliance
Community banking and financial services company Pioneer will have recently appointed Executive Vice President and Chief Administration Officer Thomas Signor head its compliance and risk functions.