Financial crimes

The regulation allows banks to add employees with past convictions for trivial crimes after the industry complained the prior rules were too severe.

Quantexa, which uses artificial intelligence to detect money laundering and other financial crime, is already being used by HSBC and Standard Chartered Bank.

The National Defense Authorization Act, approved in a vote late Tuesday, includes measures to require companies to disclose their true owners at the point of incorporation and to improve information-sharing between banks and the government.

Banks' fear of big penalties, the changing tactics of nimble criminals and a greater openness among regulators to new approaches are among the factors driving big investments.

Unity Bancorp must improve its policies and procedures and increase staff training on following Bank Secrecy Act and anti-money-laundering laws.

Deutsche Bank says it’s on track to meet its financial targets while Commerzbank's top two executives resign; recent Fed stress test results show European banks' poor performance in U.S. continues.

The regulator banned a former CU employee from working in financial services on the basis of allegations that he misused funds when working at an Indiana credit union.

The Supreme Court ruled the Consumer Financial Protection Bureau's leadership structure is unconstitutional and refused to hear a lawsuit over the NCUA's field of membership rule. Credit unions are watching to see what happens now.

The Fed stopped short of banning payouts entirely following bank stress tests; banks get greater freedom to invest in venture capital funds and reduced collateral on swap trades.

A key Democrat on the House Financial Services Committee, Rep. Carolyn Maloney has a slim lead over a primary challenger, Suraj Patel, a progressive political activist and New York University professor.

A key Democrat on the House Financial Services Committee, Rep. Carolyn Maloney has a slim lead over a primary challenger, Suraj Patel, a progressive political activist and New York University professor.

CBTX in Houston must develop policies and procedures, along with a training program, to address deficiencies in its bank's compliance with the Bank Secrecy Act.

Firms won’t have to repay their loans even if they don’t rehire all their laid off workers; Fed chair confirms the shortage is due to the coronavirus but is easing as the economy reopen.

Newly released documents highlight the challenges that Carrie Tolstedt and four co-defendants are likely to confront as they face civil charges involving sales misconduct at the bank.

AI is not merely a play to cut costs or replace human capital, says Silent Eight's Jim Logan.

Prior to the outbreak, members were banned from covering their faces inside branches for security reasons. Now institutions must devise ways to keep everyone healthy and safe.

The employee assisted authorities in currency trading investigations that cost the bank $714 million; Citi is eyeing an expansion of its commercial banking ops in Europe, Middle East and Africa as other lenders exit on coronavirus fears.

The veteran banker will serve as chief administrative officer, with responsibilities that include strengthening Citi’s data architecture, creating greater consistency in its dealings with regulators and enhancing its efforts to combat money laundering.

A trio of former credit union employees received lifetime bans from the financial services industry, including one who was accused of stealing almost $15,000.

Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.