Compliance

Bank of Montreal dismissed a managing director on its US mortgage-backed bond desk in connection with a regulatory probe into misleading marketing practices.

Citing concerns about going outside its statutory mandate, the Federal Reserve Board of Governors voted to leave the Network of Central Banks and Supervisors for Greening the Financial System.

Months of painful restructuring may be paying off as the Charlottesville, Virginia-based company reported a modest third-quarter profit after more than a year of losses.

Instant payment adoption in the U.S. is growing but still trails countries such as Brazil and India. Generative artificial intelligence could be the key to help financial institutions accelerate payment velocity.

Letitia James, the New York state attorney general, sued Citigroup and argued it should be liable for fraud cases involving consumer wire transfers. But Citi said the AG's view would bring about a "sea change in banking law."