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Wells Fargo won an early round in a lawsuit accusing the bank of running a predatory mortgage lending scheme in the Atlanta area before the 2008 financial crisis and continuing to discriminate against minorities for more than a decade afterward.
March 29
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Banks must comply quickly with fast-moving sanctions against the Kremlin and have to spot questionable Russian companies and wealthy individuals. At the same time, some need to deal with settlement risk of trades that involve rubles. Sophisticated data sharing and analysis are making it easier to do the job.
March 28
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The White House's $5.8 trillion spending proposal to Congress includes more dollars for anti-money-laundering enforcement, Small Business Administration loan guarantee programs and affordable housing financed by community development financial institutions.
March 28
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A bet on gambling payments, a step for open banking and more in banking news this week.
March 25
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The suspects, ages 16 to 21, were apprehended in connection with an investigation into a hacking group called Lapsus$, which has said it’s responsible for a rash of recent cyberattacks against companies including Microsoft and Nvidia.
March 25
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The identity management company, which has many bank clients, said it learned the extent of a January breach five days before hackers told the world about it.
March 23
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A $1.9 billion lawsuit against Bank of Montreal — which is accused of lying to a judge after a predecessor bank destroyed documents — may go to trial late this year. The legal imbroglio is coming to a head as regulators examine the Canadian banking giant’s proposed acquisition of Bank of the West.
March 22
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The cybercriminal group N4ughtySecTU claimed to have stolen 54 million personal records from the credit bureau and demanded $15 million.
March 22
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When the U.S. announced sanctions against Russia two weeks ago, many feared U.S. banks would bear the brunt of a payback cyberattack. Experts disagree on why that hasn't happened and whether the danger has passed.
March 18
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The Financial Crimes Enforcement Network and the Office of the Comptroller of the Currency slammed the San Antonio bank for anti-money-laundering violations. The penalty is the latest in a series of regulatory problems for USAA.
March 17
