Financial crimes

A U.S. alcohol maker's $191 million investment in Canadian cannabis could raise difficult questions for the banks that have lent big sums of money to the company.

A U.S. alcohol maker's $191 million investment in Canadian cannabis could raise difficult questions for the banks that have lent big sums of money to the company.

Sens. Elizabeth Warren, D-Mass., and Chris Van Hollen, D-Md., sent a letter to OCC officials suggesting that Bank of Tokyo was trying to avoid an investigation by New York examiners when it switched to a federal charter.

The federal banking regulators should create a working group that, rather than propose new rules and regulations, would clarify the application of existing rules to blockchain technology.

The San Francisco company said Friday that it has terminated Franklin Codel, effective immediately, over an interaction he had with a former employee regarding that employee's termination.

CFPB director’s departure gives President Trump the chance to revamp the agency; the bank regulator is reverting to its industry-friendly ways.

The Treasury Department on Wednesday named Kenneth A. Blanco, a longtime criminal prosecutor with the Justice Department, the director of the Financial Crimes Enforcement Network.

Wall Street and its allies in the House are trying to kill the Consolidated Audit Trail, a supercomputer that will allow regulators to detect market abuses, punish wrongdoers and better understand why markets sometimes crash.

The Fed’s new chief bank regulator wants to change “the tenor of supervision”; Ron O’Hanley, who was named president this week, will also take over as CEO by the end of 2018.

Four executives who sold stock after the company discovered a security breach had no knowledge of the incident when they made the trades, the company said. However, the status of federal investigations is unclear.

The proposed 20% corporate tax rate would benefit banks more than other industries; online lenders made nearly a third of new personal loans in the first half.

As more startups turn to initial coin offerings to raise capital, financial institutions will seek reassurance that their blockchain and other fintech partners are aboveboard.

Many standard procedures are possible as there are significant similarities in the information requirements across the globe, writes Zac Cohen, general manager for Trulioo.

The OCC has terminated orders against three of Fulton's banks. The company and two other banks still have BSA-related orders.

President Trump is expected to announce his Fed chair nominee this week; three deals earned JPM's boss almost $100 million.

Investors Bancorp in Short Hills, N.J., chased deposits in the third quarter in a move that drove up interest expenses and lowered profits.

The accord is the latest development in investigations by governments across the globe into banks’ manipulation of benchmark interest rates.

As many as a dozen financial institutions are deploying IBM’s Watson to search for signs of employee misconduct so they can avoid a Wells Fargo-size scandal. But the legal and technical limits of its use are major issues.

Wilmington Trust and some of its executives had been accused of intentionally understating past-due loans in 2009 and 2010.

The bank plans to contact all customers who paid fees for rate lock extensions during a three-and-a-half-year period and to refund any who believe they should not have been charged.