AML

TD Bank Group's money-laundering-related crimes have sparked questions of how banks should be penalized for moving dirty money. CFPB Director Rohit Chopra said the FDIC should do more.

Members of the Federal Deposit Insurance Corp. board of directors Tuesday debated Consumer Financial Protection Bureau Director Rohit Chopra's proposal limiting capital distributions system-wide during times of stress, as well as penalties for institutions caught engaging in money laundering.

A federal judge in Texas has blocked the enforcement of the Corporate Transparency Act, a key U.S. anti-money-laundering law that would require companies to report ownership details by January.

Small Business Bank in Lennox, Kansas received another cease-and-desist order from the Federal Reserve for failing to comply with anti-money laundering and Bank Secrecy Act requirements for the second time in 14 months.

In its semiannual supervision and regulation report, the Federal Reserve flagged climbing loan delinquencies and a rising number of large bank citations for governance and controls.

The bank's U.S. operations will be closely monitored during a yearslong probationary period, during which any sign of backsliding could trigger swift punitive action.

Daria Sewell pleaded not guilty to possessing customers' personally identifiable information. The case adds to the Canadian bank's anti-money-laundering woes.

An uptick in fines associated with anti-money-laundering failures demonstrates that U.S. banks still have much work to do in terms of optimizing their internal systems to identify and stop the flow of dirty money.

The megabank disclosed that regulators are looking at its anti-money-laundering and sanctions compliance. Wells Fargo was recently hit with an enforcement action over similar matters.

TD Bank's guilty plea to extensive money-laundering charges last week did not include any criminal charges against individual bank executives. That absence has critics fuming, but experts say bringing charges against individuals isn't so easy.