Financial crimes

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.