Financial crimes

The European Union is taking another small step toward setting up a common authority to fight money laundering in the bloc, after a string of revelations over the last two years exposed fundamental flaws of its framework.

The regulator banned a former employee of a Philadelphia-based credit union from working at any federally insured financial institution.

Many businesses are turning to the popular videoconferencing platform to stay connected to employees, but institutions need to think about measures they can take to utilize it safely.

The former CEO at The Federal Savings Bank, who faces a bribery charge in connection with loans to President Trump's onetime campaign chief, is seeking to keep evidence from his phone out of the upcoming trial.

The administration and Congress are said to be close to adding $310 billion to the small business loan program; the department is looking at whether it can prevent banks from seizing government checks.

Brian Smith, who spent the past decade with Regions Financial, will head the bank's government relations and public policy team.

A trade group says suspending so-called beneficial owner rules would help financial institutions make more small-business loans through the Paycheck Protection Program.

Bank’s earnings fall 69% in the first quarter; this week’s earnings reports could determine whether banks will need to suspend dividends.

The bank will be allowed to exceed the limit to enable it to make more small business loans; the CEOs of HSBC and StanChart are also donating part of their pay to coronavirus victim charities.

They have asked the Financial Crimes Enforcement Network, the chief anti-money-laundering regulator, to let them collect customer information and verify it after the loan application is processed in order to speed approvals.