- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Department of Justice last week announced that two more banks—Migros Bank and Graubündner Kantonalbank—have reached resolutions under the Department’s Swiss Bank Program, which provides a means for Swiss banks to resolve potential criminal liabilities in the United States. Migros will pay a $15 million penalty, and Graubündner will pay ...
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Union Bancaire Privée (UBP), a Swiss private bank, must pay an additional $14 million to the U.S. government for accounts it failed to disclose in an addendum to a non-prosecution agreement reached with the Department of Justice four years ago.
A defamation lawsuit filed by a whistleblower against USAA, which a Florida judge recently dismissed on a technicality, revealed in public court records an estimated 400,000 violations of the Military Lending Act by USAA Federal Savings Bank (USAA Bank), an indirect wholly owned subsidiary of USAA.
Regulations are sure to be rolled back under President Donald Trump, but the question is which regulations, and how much? Is your organization as prepared to respond when regulations are loosened as it was when they were tightened?
