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The Treasury secretary told lawmakers that the government needs “to strike the right balance” on Bank Secrecy Act requirements while determining the best way to collect details about account holders.
July 12
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The moves are seen as setting the stage for CEO James Gorman’s eventual retirement; banks outside the U.S. are suffering from the greenback’s recent rise.
July 11
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Mayor Eric Garcetti signed an ordinance Monday that establishes new requirements for banks that want to do business with the city. The rules are thought to be the first of their kind nationally.
July 10
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A money-laundering scandal at Denmark's largest bank has prompted increased regulatory scrutiny at larger banks, so criminals may try to filter dirty money at smaller institutions, a regulator warned.
July 9
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A new court filing suggests that Stephen Calk was named to a 13-member economic advisory team in 2016 in exchange for approving a $9.5 million loan to former campaign manager Paul Manafort.
July 6
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One firm's inability to access bank data shows how fragile fintechs can be; payments processor Square quietly withdraws bank application; turnover of chief risk officers is on the rise; and more from this week's most-read stories.
July 6
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The fundraising is a sign of the rise in the anti-money-laundering market, which is expected to reach $4.26 trillion worldwide in less than a decade.
July 6
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The Swiss bank allegedly hired Chinese officials’ friends and relatives to win business; JPM asked “several dozen” employees to consider moving from London.
July 6
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The decision not to go after the real estate firm could have “serious implications” for lenders; British banks have three months to address technology issues.
July 5
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Both South Korea and Japan, for example, are crypto-friendly countries, but they’re also cracking down on anonymous cryptos, citing money laundering risk, according to Bob Rutherford, CEO and founder of Hedge.
July 5
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Theft and money laundering are both thriving in the crypto world, according to a report released Tuesday by CipherTrace.
July 3
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A judge rules the accounting firm should have detected the fraud that brought down Colonial Bank; Fed deal with Goldman and Morgan Stanley shows softer side.
July 3
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Joel Tucker is the brother of Scott Tucker, who in January was sentenced to 16 years in prison for perpetrating an unrelated payday-loan scheme.
July 2
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The company continues to be restricted from pursuing acquisitions until the Federal Reserve lifts its enforcement order requiring it to strengthen anti-money-laundering controls.
July 2
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Deutsche Bank failed and Goldman Sachs and Morgan Stanley restrained; antitrust lawsuit brought by retailers may be near a resolution.
June 29
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The class-action suit filed on behalf of people who lost money in the scam accuses Bank of America of failing to spot suspicious activity, including deposits of hundreds of thousands of dollars into accounts with small or negative balances.
June 26
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With more permanent fixes not yet gaining enough traction, recent attempts to clarify marijuana banking rules through appropriations are also falling flat.
June 25
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The company said the aim of a redesign and additional automation is to make its compliance software easier for bankers to use.
June 21
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The payments company said it plans to spend $1 billion to $3 billion a year on acquisitions; NYS fines bank $205 million.
June 21
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The settlement resolves one of several regulatory issues that have dogged the German bank's U.S. operations.
June 20
