Financial crimes

The bureau should adopt a clear, consistent framework for determining civil money penalties against financial firms.

The Federal Trade Commission accused the online lender of numerous violations in connection with its loan servicing practices. In one example, Avant allegedly informed customers that they could make payments by credit card or debit card but then refused to accept such payments.

In a roundtable discussion, the heads of four banks called on Congress to move on CRA modernization and address the cannabis conundrum, while dismissing arguments that midsize banks need to merge to stay competitive.

On the same day the House Financial Services Committee held a hearing with CEOs of seven of the largest banks, Sen. Sherrod Brown said bank misconduct since the crisis demanded further inquiry by the Senate Banking Committee.

The Treasury secretary told the House Financial Services Committee that he has been in coordination with the U.S. bank regulators to soften the impact of the United Kingdom potentially failing to strike a deal on its exit from the European Union.

The agreement with U.S. and U.K. regulators is on top of the $667 million it paid to U.S. authorities in 2012 for its handling of transactions that violated economic sanctions against Iran.

PR campaigns won’t be enough to salvage the bank’s reputation after a series of scandals. Instead, it should look into adopting a new name, among other crucial steps.

The bank agreed to modify loans to struggling U.S. borrowers as part of a 2017 settlement. Instead, it’s receiving credit for financing new mortgages that likely would have been made anyway.

Many U.S. banks, especially in Florida, are struggling to comply with U.S. sanctions against the Maduro regime. Some argue artificial intelligence can make it easier to distinguish between legitimate payments and illicit transactions.

The bank’s biggest shareholder says Wall Street shouldn't yield its next CEO; concern that mistakes that led to the financial crisis are being repeated.

Since Wells Fargo’s phony-accounts scandal broke in 2016, the bank has appeared contrite in public. In private, it’s a different story.

Commercial Bank of Ivanovo, in which former North Carolina Representative Charles Taylor owns an 80% stake, regularly broke anti-money-laundering regulations and used “schemes” to artificially inflate its capital, according to a central bank statement.

Compliance officers should demand better means to quickly gather, organize, and view data regarding accounts and transactions that may be partaking in financial crime, argues Elsa Chan, head of Americas for ComplyAdvantage.

The Massachusetts senator introduced legislation Wednesday that would require executives of large corporations to serve jail time when their companies commit crimes, including for violations of civil law.

Edward Rostohar was arrested after his wife informed authorities he stole from CBS Employees Federal Credit Union and was preparing to flee the country.

The bank's decision to select its general counsel as successor to Tim Sloan, albeit on a temporary basis, focused attention on its frayed relationships with the Federal Reserve and the OCC.

The chairwoman of the House Financial Services Committee said Tim Sloan's resignation as CEO was "long overdue" but that other executives and directors should be removed as well.

The pair subject to the regulator's March prohibition orders both pleaded guilty and were ordered to pay more than $320,000 in restitution, among other punishments.

Tim Sloan couldn't hang on any longer. Here are insights about why he left now, what role policymakers played in the decision and will continue to have in the company's future, and who in the world would want to lead Wells Fargo.

Swedbank fires its CEO as New York State DFS probes alleged money laundering; the underperforming unit will be overseen by CEO Jes Staley.