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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2024-05-24T17:39:00
The Treasury Department’s Office of the Comptroller of the Currency (OCC) reached agreements with two banks over concerns related to risk governance practices.
Michigan-based Comerica Bank & Trust and Illinois-based Lemont National Bank avoided penalties but accepted certain compliance undertakings in reaching agreements with the OCC announced Thursday.
The OCC found unsafe and unsound practices at Comerica related to the bank’s risk governance framework and internal controls. At Lemont, the agency found similar deficiencies related to liquidity risk management and capital planning.
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News and analysis for the well-informed compliance or audit exec.
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2024-04-19T17:49:00Z By Aaron Nicodemus
The Office of the Comptroller of the Currency cited three banks for unsafe and unsound business practices that mirror issues similar to what spurred last year’s banking crisis.
2024-02-15T21:00:00Z By Jeff Dale
The Office of the Comptroller of the Currency issued a cease-and-desist order against the former general counsel at Sterling Bank and Trust for not ensuring the institution’s Bank Secrecy Act compliance and failing to timely file suspicious activity reports.
2023-12-19T20:45:00Z By Kyle Brasseur
U.S. Bank agreed to pay nearly $36 million total in separate settlements with the Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency for allegedly impeding consumers’ access to their unemployment benefits during the Covid-19 pandemic.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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