By Jeff Dale2024-03-01T17:18:00
Financial technology firm Green Dot Corp. estimated a pending consent order with the Federal Reserve Board will require a payment of between $20 million to $50 million.
The order relates principally to various aspects of “compliance risk management, including consumer compliance and compliance with anti-money laundering regulations,” Green Dot said in a press release Tuesday.
As part of generally accepted accounting principles, the company said it accrued an estimated liability of $20 million related to the proposed consent order, with the “aggregate range of reasonably possible losses … up to $50 million” for the quarter ended Dec. 31, 2023.
2024-07-22T19:09:00Z By Jeff Dale
The Federal Reserve Board of Governors fined financial technology and bank holding company Green Dot $44 million for numerous unfair and deceptive practices and a deficient consumer compliance risk management program.
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Since the failure of Silicon Valley Bank nearly one year ago, the Federal Reserve Board has revamped its supervisory procedures to respond more quickly and forcefully once it identifies emerging risks at mid-sized and large banks, according to the agency’s vice chair for supervision.
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The Industrial and Commercial Bank of China and its New York branch agreed to pay $32.4 million in penalties levied by two regulators for failing to address compliance failures and for the unauthorized disclosure of confidential supervisory information to an overseas regulator.
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JPMorgan Chase has agreed to pay $330 million to settle allegations about its role in the massive, decades-long theft of Malaysian’s 1MDB state investment fund, the bank says. An estimated $4.5 billion was robbed from the 1MDB fund, from 2009-2014, in a scheme led by Malaysian financier, Jho Low, former ...
2025-08-25T18:24:00Z By Adrianne Appel
Crypto platform Anchorage Digital has been freed of a consent order originally issued by the Treasury Department for anti-money laundering failures.
2025-08-25T15:51:00Z By Adrianne Appel
The co-founders of a California financial tech and sustainability services company defrauded investors and lenders of $248 million, according to the Department of Justice.
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