Compliance

Is the banking sector in crisis? What happened, and what can bankers learn from this turmoil? Two of American Banker's reporters discuss the fallout and what comes next with the magazine's editor-in-chief.

Navigating challenges and what's ahead in banking regulation.

In three years as a subsidiary of $3.2 billion-asset MVB Financial, Chartwell Compliance has tripled its headcount and revenues, MVB CEO Larry Mazza said Wednesday, after announcing Chartwell's sale to New York-based Ankura.

The Wall Street Journal reported the Fed is investigating Goldman Sachs' Marcus division, the company's effort to reach U.S. consumers that has been scaled back. The New York bank's stock fell 2.5% after the news.

Bank loans to private equity, mortgage companies as well as other lightly regulated — and increasingly volatile — industries have soared in recent years. The central bank says it needs to know how leveraged those borrowers are and how much risk they pose to the banking system.

Labor costs constitute a major piece of banks' spending on preventing financial crimes despite technological advancements, and costs are leveling off despite new legislation. Here's why.

After a yearlong investigation by the Securities and Exchange Commission, large investment banks including BofA, Citi and Deutsche admitted they failed to monitor their employees on certain messaging channels such as WhatsApp.

The company has built an ability to connect employees' communications to their behavior, to root out any policy violations and show regulators a bank is doing enough to comply.

An alert released Tuesday asks banks to give special attention to specific “commodities of concern” as they monitor transactions.

Banking groups are concerned that their long-fought-for Office of Supervisory Appeals Committee was disbanded without public comment.

A more active Consumer Financial Protection Bureau, competition from Big Tech and sanctions on Russia are combining to make compliance a much larger concern than in the past, according to legal experts who spoke at American Banker's Payments Forum.

The Consumer Financial Protection Bureau filed more actions against redlining and discriminatory practices in 2021 and is skeptical that that predictive analytics will reduce bias.

During his March Federal Open Market Committee meeting press conference, acting Federal Reserve Chair Jerome Powell said the Fed's supervision and regulatory panel was no longer active and key decisions about stress tests and bank mergers were being handled by the full board.

Several large banks are being investigated for employees’ use of unmonitored messaging software, despite prohibitions that have been in place for years.

The Federal Deposit Insurance Corp. reported a spike in troubled assets, suggesting a fairly large bank may be under heightened scrutiny. But confidentiality rules make it impossible to confirm any details.

The OCC and CFPB are investigating Bank of America for allegedly failing to protect tens of thousands of cardholders who reported fraud or were blocked from accessing their money at the height of the pandemic, according to sources familiar with the matter.