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As financial fraud becomes more and more sophisticated, banks need to get proactive about protecting their customers from scammers. This is particularly true of seniors, whose deposits are a key source of banks' core deposits.
October 16
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For more than a decade, the bank allowed billions of dollars from illicit activities to flow through the U.S. financial system unchecked. Some are wondering why examiners didn't put a stop to it sooner.
October 16
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The Consumer Financial Protection Bureau and Department of Justice issued a consent order against Wisconsin-based nonbank mortgage originator Fairway Independent Mortgage over redlining allegations. Fairway is the country's fifth-largest mortgage originator by volume.
October 15
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Regulators' asset cap on TD Bank for money-laundering violations has cemented the enforcement tool as a supreme cudgel to rein in problem banks, while other tools devised in the wake of the Great Financial Crisis gather dust.
October 15
American Banker -
The Supreme Court ruled this year that companies facing civil money penalties have the right to request a jury trial. The ruling is going to change the way regulators and companies think about enforcement actions.
October 11
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The Canadian bank is indefinitely prohibited from growing assets at its two U.S. subsidiaries as the result of a sweeping settlement over money-laundering violations. While only the second imposition of such a penalty ever, experts say it will not be the last.
October 10
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The sweeping enforcement actions will be a watershed event for TD Bank's U.S. subsidiary, which had previously been a promising growth engine.
October 10
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Los Angeles dispute resolution platform Ejudicate was banned by the Consumer Financial Protection Bureau for forcing borrowers into arbitration with an affiliated creditor.
October 10
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Toronto-Dominion Bank will pay the penalties and agree to restrictions on its U.S. growth in a settlement with regulators over its failure to catch money laundering, the Wall Street Journal reported. Regulators are likely to announce the settlement Thursday.
October 10
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As regulators and Congress push for stronger consumer protections as losses mount, payment experts say there are steps companies should be taking now to respond.
October 7
