Financial crimes

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.

Ocwen Financial reached a settlement with 10 states under which it can't acquire servicing rights for eight months but will not face any financial penalties.

Both former credit union employees are prohibited from participating in the affairs of any federally insured financial institution.

Washington Federal is the latest bank to pull an application after being flagged for insufficient Bank Secrecy Act compliance.

Ellen Patterson is one of just 21 TD employees with an EVP title globally and the only female EVP based in the United States.

First Green Bank in Florida started researching the business after its chairman saw how medical marijuana had helped his wife cope with a severe injury. The bank is now turning a profit a year after adding its first pot-related client -- and there could be lessons there for credit unions.

The Florida bank started researching the business after Ken LaRoe, its chairman, saw how medical marijuana had helped his wife cope with a severe injury. First Green is now turning a profit on this business a year after adding its first pot-related client.