By Aaron Nicodemus2024-01-19T18:43:00
The Industrial and Commercial Bank of China (ICBC) and its New York branch agreed to pay $32.4 million in penalties levied by two regulators for failing to address long-standing compliance failures and for the unauthorized disclosure of confidential supervisory information (CSI) to an overseas regulator.
The New York State Department of Financial Services (NYDFS) fined the ICBC $30 million for failing to correct deficiencies found in its anti-money laundering (AML) and sanctions screening processes over several examination cycles from 2018-22, according to a press release Friday.
The Federal Reserve Board separately announced a $2.4 million fine against the ICBC for the unauthorized use and disclosure of CSI.
2024-08-28T17:41:00Z By Aaron Nicodemus
Finland-based Nordea Bank will pay $35 million to resolve an investigation by the New York Department of Financial Services into “significant compliance failures” in its anti-money laundering and Bank Secrecy Act program.
2024-03-04T19:39:00Z By Jeff Dale
Metropolitan Commercial Bank announced the appointments of a chief risk officer and Bank Secrecy Act/anti-money laundering officer to bolster its reporting lines following a $30 million enforcement action from federal and state authorities last year.
2024-03-01T17:18:00Z By Jeff Dale
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.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
2025-10-06T16:46:00Z By Aly McDevitt
A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.
2025-10-02T16:32:00Z By Oscar Gonzalez
The Federal Trade Commission (FTC) accused business credit reporting company Dun & Bradstreet of failing to comply with the commission’s 2022 order.
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