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U.S. banks and credit unions reported skyrocketing levels of suspected business-loan fraud last month, a period that coincided with growing awareness of scams involving government small-business aid programs.5h ago
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Financial institutions and authorities could better track money launderers if legalized-marijuana-related businesses were not included in SARs.7h ago
CEONorth Bay Credit Union
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Artificial intelligence, machine learning and enhanced data sharing among lenders could go a long way toward spotting suspicious patterns in daily financial activity and bad actors, experts say.September 23
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The news media investigation of transactions by nefarious actors puts certain large banks in a negative light, but it also points to inefficient use of suspicious activity reports and other anti-money-laundering issues that the industry has decried for years.September 23
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JPMorgan Chase is poised to pay close to $1 billion to resolve market manipulation investigations by U.S. authorities into its trading of metals futures and Treasury securities, according to three people with knowledge of the matter.September 23
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Commercial real estate loans are vulnerable as financial assistance for tenants winds down and might not be fully renewed. Late rent payments could rise, leading lenders to press landlords to pay up.September 23
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The Fed chief said that with its Main Street Lending Program, the central bank has “done basically all of the things that we can think of.”September 23
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With lawmakers weighing changes to Bank Secrecy Act requirements, the Government Accountability Office urged the Financial Crimes Enforcement Network to establish written policies for expanding use of the agency’s database.September 22
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Commercial real estate companies are among those left out of the Federal Reserve’s middle-market relief program, but House members said they need government-backed financing to navigate the pandemic as much as anyone.September 22
![Fed Chairman Jerome Powell said the central bank had previously concluded that asset-based borrowers were able to secure financing elsewhere. Treasury Secretary Steven Mnuchin said “small hotels do not fit into [the Main Street Lending Program] because they already have other indebtedness.”](https://arizent.brightspotcdn.com/dims4/default/28d67cc/2147483647/strip/true/crop/1598x900+1+0/resize/460x259!/quality/90/?url=https%3A%2F%2Fsource-media-brightspot.s3.amazonaws.com%2Fb3%2F79%2F3b1db6264efa9eab86e05b296afc%2Fpowell-jerome-mnuchin-steven-bl-092220.png)