All Federal Reserve Board articles – Page 3
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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.
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ArticleNational 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.
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ArticleBSA update proposal seeks more data on international transactions
FinCEN and the Federal Reserve Board have proposed lowering the threshold at which financial institutions must collect, retain, and transmit information on overseas transfers under the Bank Secrecy Act.
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ArticleCompliance lessons from Goldman Sachs’ $2.9B 1MDB settlement
Jaclyn Jaeger explores compliance takeaways from Goldman Sachs’ $2.9 billion global bribery settlement for its role in the 1MDB scandal.
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Article
Regs rollback Volcker rule restrictions on bank investments
Despite pushback from some regulators and Democrats in Congress, the newest Volcker rule update will allow banks—in certain circumstances—to invest or sponsor hedge funds and private equity funds.
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ArticleProposed Volcker rule rollback gets pushback from agency leadership
Five federal agencies agreed that now would be a good time to ease restrictions on bank investments in hedge funds or private equity funds, triggering concern by some that the deregulation could be harmful. But is apprehension over the proposed Volcker rule relaxation overblown?
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Blog
Federal Reserve Board permanently bars former JPMorgan employee
The Federal Reserve Board permanently barred from the banking industry a former managing director at a non-bank subsidiary of JPMorgan Chase in connection with the bank's referral hiring program.
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Blog
Legislators question bank merger, Fed’s approval process
SunTrust Banks and BB&T Corp. recently announced merger plans. The deal is drawing the scrutiny of Congressional Democrats, less for the details of the merger than the regulatory atmosphere that encouraged it and the forthcoming approval process.
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Blog
Quarles to head Financial Stability Board
Randal Quarles, a Federal Reserve governor and its vice chairman for supervision, has been appointed as the new chairman of the international Financial Stability Board.
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Blog
Fed fines Citigroup $8.6M over improper mortgage documents
The Board of Governors of the Federal Reserve has fined Citigroup $8.6 million for the improper execution of residential mortgage-related documents.
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Blog
Federal Reserve launches new compliance bulletin
The Federal Reserve Board has launched a new publication intended to provide bankers with high-level summaries of pertinent supervisory issues.
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Blog
Fed rule targets risk concentrations among big banks
A new rule from the Federal Resere seeks to prevent concentrations of risk between large banking organizations and their counterparties from undermining financial stability.
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Article
Fed pitches a new effort to streamline Volcker rule
On the heels of new legislation targeting reach of the Volcker rule to small- and medium-sized financial institutions, the Fed has announced its own plan for streamlining the Dodd-Frank Act’s regulatory centerpiece.
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Blog
Report: Wells Fargo employees may have altered customer documents
The latest catalyst for bad news at Wells Fargo: allegations that employees altered information on business customers’ forms and documents.
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Blog
Powell takes charge as Fed’s chairman of the Board of Governors
On Feb. 5, Jerome H. Powell took the oath of office as chairman of the Board of Governors of the Federal Reserve System, succeeding Janet L. Yellen. His term as chairman is four years.
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Blog
Fed drops hammer on Wells Fargo, board for past misdeeds
On her last day as Federal Reserve Chairman, Janet Yellen escalated the regulatory attack on the embattled Wells Fargo, restricting the growth of the firm until it “sufficiently improves its governance and controls.”
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Blog
Agencies announce postitive results for living wills
The Federal Deposit Insurance Corporation and the Federal Reserve Board have released resolution plans for the eight largest and "most complex" domestic banks. In a signal of progress, none were found to have severe deficiencies.
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Blog
Fed plans transfer of consumer protection rules to CFPB
The Federal Reserve Board has announced the repeal of one regulation and revisions to another as part of an effort to transfer certain consumer protection rule-writing authority to the Consumer Financial Protection Bureau.
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Article
How financial regulation will evolve under Fed Chairman Powell
If confirmed by the Senate, President Trump’s decision to promote Fed Governor Jerome Powell to chairman will further his deregulatory agenda, albeit in a kinder, gentler way.
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Blog
ICOs, Santa, and the DEA
Title: ICOs, Santa, and the DEAIn case you missed it this week, cryptocurrencies have a historic week, the military continues to ignore sexual misconduct allegations, and physically dragging passengers off of an airline isn’t considered a civil rights violation, after all.
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