All Banking articles – Page 6
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ArticleSEC rips Wells Fargo’s ETF compliance efforts in $35M settlement
Already reeling from last week’s $3 billion penalty related to its fake accounts scandal, Wells Fargo took another hit Thursday in the form of a $35 million SEC settlement related to poor supervision of investment recommendation practices.
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What’s next for Wells Fargo? Bank, execs still in crosshairs
Wells Fargo will pay $3 billion to resolve civil and criminal penalties with the DOJ and SEC related to its long-running fake accounts scandal, but the embattled bank—and its former executives—are far from out of the woods.
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Wells Fargo to pay $3B to resolve fake account scandal
The Department of Justice and Securities and Exchange Commission on Friday assessed total civil and criminal penalties of $3 billion against Wells Fargo Co. and its subsidiary, Wells Fargo Bank, in the aftermath of its fake account scandal.
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Compliance lessons from Julius Baer’s ‘serious AML failings’
Compliance officers can learn a lot from the anti-money laundering compliance shortcomings at Julius Baer Group, as well as from what the bank is now doing to enhance its risk management and AML compliance controls.
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Fifth Third tabs new risk chief
Fifth Third Bancorp announced the appointment of Jamie Leonard as chief risk officer amid a recent leadership shuffle.
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Coastal Community Bank hires chief risk officer
Coastal Community Bank announced the addition of Andrew Stines as chief risk officer.
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OCC fines former Wells Fargo CEO $17.5M, bans him from banking industry
Former Wells Fargo Bank CEO John Stumpf was disciplined by the OCC on Thursday, but is the ban of someone in his mid-60s with tens of millions of dollars in net worth really more than a wrist slap?
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Six strategies for FinTech adoption in banking
Thomas Wan of the International Compliance Training Academy outlines strategies for navigating the dynamic terrain of FinTech adoption within the banking industry.
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Arvest Bank appoints chief compliance officer
Arvest Bank announced the promotion of Renee Huffaker to chief compliance officer. She assumes the role from Cara James, who was previously promoted to chief risk officer.
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BancorpSouth appoints chief risk officer
BancorpSouth Bank announced the appointment of Ty Lambert as its chief risk officer.
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Fitch Ratings: ESG plays increasingly influential role on bank lending
Environmental, social, and governance factors are increasingly playing an influential role in the underwriting processes of global banks, according to a new report released by Fitch Ratings.
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Axis Bank adds new risk chief
Axis Bank’ board of directors approved the appointment of Amit Talgeri as chief risk officer for a period of three years.
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Top ethics and compliance failures of 2019
From antitrust and privacy concerns in the tech world to compliance officer liability in the pharmaceutical industry to unethical practices in the banking and accounting professions, more than a dozen companies made Compliance Week’s list of the biggest compliance fails in 2019.
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International banking regulator: Big Tech ‘may pose risks to financial stability’
Big technology firms like Amazon, Facebook, Twitter, and Google are a potential risk if they get more heavily involved in providing financial services, says the Financial Stability Board.
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HSBC names chief risk officer amid leadership changes
HSBC Holdings, the parent company of HSBC Bank, announced the appointment of a new chief risk officer amid several executive changes.
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Swedbank announces governance overhaul, launches culture probe
Swedbank CEO Jens Henriksson announced the financial institution is making some major organizational changes “to create simpler and clearer decision-making structures to facilitate the realization of the bank’s strategy.”
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Federal banking regs ease hemp reporting requirements
New interagency guidance issued this week brings good news for compliance officers of banking institutions with hemp-related customers.
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PRA fines Citigroup for regulatory disclosure failure
The Bank of England has hit Citigroup with a record £44 million (U.S. $56.5 million) fine after it found three of its U.K. units failed to submit complete and accurate regulatory information about the lender’s capital and liquidity levels.
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Westpac accused of 23M violations of Australian AML rules
Australia’s financial crime regulator has accused Westpac Banking of committing over 23 million breaches of the country’s anti-money laundering and counter-terrorism financing rules.
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Hong Kong, Singapore regulators fine UBS $59M for client overcharges
Swiss bank UBS will pay $59 million in total civil penalties in resolutions with both Hong Kong and Swiss regulators for overcharging clients for over a decade.
