All Banking articles – Page 9
-
ArticleSarah Bloom Raskin withdraws nomination as top banking regulator
Sarah Bloom Raskin, President Joe Biden’s pick to be vice chair for supervision at the Federal Reserve, withdrew her nomination after losing the support of a key Democratic senator.
-
Article
Swedbank Estonia named suspect in money laundering investigation
The Estonian branch of Swedbank has been summoned for interrogation as part of a probe into suspected money laundering and other criminal activities.
-
Article
Learning points from HSBC’s fine for AML failings
Significant investment in systems has not been fully effective in mitigating financial crime risk. A fine of nearly £64 million (then-U.S. $84 million) imposed on HSBC by the U.K. Financial Conduct Authority in December is a particularly potent example.
-
Article
Deutsche Bank monitorship extended after breach of DPA
Deutsche Bank disclosed the Department of Justice determined it breached its obligations under a 2021 deferred prosecution agreement. As a result, the term of an independent compliance monitor at the bank has been extended until February 2023.
-
Article
BM Technologies appoints chief accounting officer
BM Technologies, a digital banking platform, announced Jim Dullinger has been hired as chief accounting officer.
-
Article
First Business Bank names chief risk officer
First Business Bank named Laura Garcia chief risk officer. She joins the company after working most recently for Bank of Montreal.
-
Article
Goldman Sachs first major U.S. bank to exit Russia
Goldman Sachs announced the winding down of its business in Russia, becoming the first major U.S. bank to take such action in the wake of the invasion of Ukraine. JPMorgan Chase later announced similar plans to exit the country.
-
Article
FinCEN warns financial institutions of Russian sanctions evasion
The Financial Crimes Enforcement Network issued guidance highlighting the types of red flags financial institutions should be looking for to detect potential Russian sanctions evasion attempts.
-
Article
Citi chief compliance officer to step down; search for new CCO launched
Citi Chief Compliance Officer Mary McNiff will step down and accept another post within the bank as part of a reshuffling of leadership to comply with orders issued in 2020 by the Office of the Comptroller of the Currency and Federal Reserve.
-
Article
WSFS Bank promotes chief auditor to chief risk officer
WSFS Bank announced Chief Auditor Christine Davis has been promoted to executive vice president, chief risk officer.
-
Article
Citizens names general counsel and chief legal officer
Citizens Financial Group announced the appointment of Polly Klane as general counsel and chief legal officer, effective April 4.
-
Article
ECB questions AMLA’s effectiveness over scope, resource concerns
The European Central Bank believes the European Union’s proposed new anti-money laundering agency needs to have a wider scope of direct supervision and more staff if it is going to be effective.
-
Article
Barclays fined $1.05M for Premier FX oversight failures
The U.K. Financial Conduct Authority fined Barclays Bank £783,800 (U.S. $1.05 million) for “oversight failings” in its relationship with collapsed money remittance firm Premier FX.
-
Article
Lawsuit by BitMEX co-founder could test GDPR’s reach over SARs
Ben Delo, co-founder of cryptocurrency exchange BitMEX, filed a complaint against Wise Payments after the company allegedly refused his requests under the General Data Protection Regulation to provide him with personal information it submitted via suspicious activity reports.
-
Article
National Bank of Pakistan to pay $55.4M for AML compliance lapses
The National Bank of Pakistan and its New York branch must pay $55.4 million in total penalties in settlements with two U.S. regulators for deficiencies in the bank’s risk management and anti-money laundering compliance program.
-
Article
U.S. turns up heat on Russian banking system with new sanctions
The U.S. Department of the Treasury announced expanded sanctions against Russia affecting 80 percent of all banking assets in the country following its further invasion of Ukraine.
-
Article
What sanctions on Russia mean for U.S. companies
The first wave of sanctions imposed on Russia and its financial sector aren’t expected to result in any immediate implications for U.S. companies or their global supply chains. With matters escalating, that could quickly change, according to sanctions experts.
-
Article
Credit Suisse leak alleges corrupt customers, poor compliance practices
Credit Suisse engaged in business dealings with some of the most notorious criminals in the world, according to a consortium of media outlets that spent months parsing through the leaked records of more than 18,000 of the Swiss bank’s accounts.
-
Article
First Financial Bankshares tabs chief accounting officer
First Financial Bankshares has promoted J. Kyle McVey to executive vice president, chief accounting officer.
-
Article
Comerica discloses CFPB investigation
Financial services firm Comerica disclosed in a regulatory filing the Consumer Financial Protection Bureau is investigating certain of its business practices.
