Financial crimes

Stephen Calk is in the national media glare because his small Chicago-based bank made two enormous loans to Paul Manafort, President Trump's onetime campaign manager. Here’s a look at Calk's career and how he ended up in this spot.

The Chicago bank is denying a report that its CEO, Steve Calk, made $16 million in mortgage loans to former Trump campaign chairman Paul Manafort in exchange for a job in the White House.

The Puerto Rico-based bank failed in 2015. The FDIC, its receiver, is seeking unspecified economic and punitive damages from 16 lenders, including Bank of America, Barclays and Credit Suisse.

Foreign operatives' alleged use of fraudulent financial accounts to try to influence the U.S. political system shows again how difficult it is for banks to truly know their customers.

U.S. Bank's $600 million fine for AML lapses quickly drew readers attention, while acting CFPB Director Mick Mulvaney got the Cordray treatment on Capitol Hill and big banks made moves to speed real-time payments.

Bank’s alleged lax controls enabled a former customer to launder money in a payday lending scheme; digital currency has made back a chunk of its recent decline.

The bank’s unsullied image took a hit when it admitted to misleading regulators regarding its efforts to combat money laundering.

U.S. Bancorp has agreed to pay $613 million in penalties to state and federal authorities for violations of the Bank Secrecy Act and a faulty anti-money-laundering program.

By taking advantage of the peak sales periods with higher-than-usual transaction volumes such as Valentine’s Day, criminals can use legitimate payment and shipping platforms without raising fraud alerts, writes Ron Teicher, CEO of EverCompliant.

The company must develop and implement a system of internal controls to ensure full Bank Secrecy Act and anti-money-laundering compliance.

Readers react to the Consumer Financial Protection Bureau pulling back from investigating the Equifax breach, opine on the Federal Reserve's tough enforcement against Wells Fargo, weigh in on gender pay issues and more.

Rep. Emanuel Cleaver, D-Mo., sent a letter to two virtual currency trade associations on Thursday asking them what their members are doing to prevent hate groups from using cryptocurrencies to finance themselves.

The U.S. banking arm of the Dutch lender Rabobank has forfeited nearly $370 million for anti-money-laundering deficiencies that authorities say allowed untraceable money transfers on behalf of criminals.

The individuals are forbidden from having anything to do with the affairs of a federally insured financial institution.

Modernized bank technology and improved data sharing would sharpen anti-money-laundering efforts, making crime like human trafficking more risky and less profitable.

Bank will add 400 branches and boost mortgage lending; the company attempts first acquisition since it nearly failed during the financial crisis.

The wave of sexual harassment claims has forced a very public reckoning in certain industries, but financial services firms had largely escaped the spotlight. The departure of a Bank of America executive could signal that the industry has problems lurking behind the scenes.

Wells may have settled with former employee Claudia Ponce de Leon because it wanted to avoid the "massive exposure" of a jury trial, an expert says. It is unclear how the agreement will affect Wells’ other cases.

The Office of the Comptroller of the Currency’s semiannual report on industry risk said tougher competition between banks, leading to looser underwriting, could arise from the economic expansion.

As senators weigh anti-money-laundering reforms, they reiterated their desire to include cryptocurrencies as part of legislative discussions.