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The Federal Reserve Board issued an enforcement action against State Street requiring the bank to beef up its anti-money-laundering and Bank Secrecy Act compliance measures within 60 days after finding the existing protocols were insufficient.
June 1 -
U.S. banks enjoyed their ninth straight quarter of total profits exceeding $35 billion, according to the Federal Deposit Insurance Corp.'s first-quarter report on the industry's health. The FDIC said the growth in net income was "broad-based", spurred by a solid increase in net operating revenue, while community banks once again outpaced the industry at large. Here are some key takeaways.
June 1
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The Federal Reserve Board on Friday announced the appointment of a senior official at the Federal Reserve Bank of Chicago to lead the central banks efforts to improve the national payments system.
May 29 -
The Federal Reserve Board on Friday announced the appointment of a senior official at the Federal Reserve Bank of Chicago to lead the central banks efforts to improve the national payments system.
May 29 -
Former Wells Fargo Chief Executive Richard Kovacevich on Friday said that "regulation is killing small banks."
May 29 -
A recap of the informed opinions (and the discussions they generated) on BankThink this week, including a call for a small-business loan brokers' code of ethics and why Congress needs to level the playing field for investors in bank obligations.
May 29
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Bank of America has been ordered to pay a $30 million civil money penalty on allegations that it wrongfully used documents in litigation for debt collection and violated a law protecting members of the military and their families.
May 29 -
When New York-based private-equity firm Veritas Capital picked Jefferies Group this month to manage a $1.4 billion buyout loan, it passed over some much bigger Wall Street firms. Names like Morgan Stanley and Barclays and UBS.
May 29 -
A Florida court on Friday sided with the Consumer Financial Protection Bureau and the state over claims that a law firm charged illegal fees to consumers seeking foreclosure relief.
May 29
