Citigroup Probe Over AML Violations Widens
Citigroup is under investigation by the Financial Crimes Enforcement Network and the California Department of Business Oversight for potential Bank Secrecy Act and anti-money laundering violations at its Banamex USA unit. The disclosure comes one year after Citigroup received a subpoena from the U.S. attorney of Massachusetts for similar issues. ...
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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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ArticleSenate Democrats question Vought on comments about closing CFPB in months
Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
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PremiumAssessing the impact of the DOJ’s monitorship policy six months in
It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.