Legal issues and news

Barry Bekkedam was also fined $100,000 for a failed effort to bring in Tarp funds before NOVA failed in 2012.

Federal and state regulators on Friday announced that BB&T has agreed to a consent order over weaknesses in its Bank Secrecy Act and anti-money-laundering program.

Atlanta-based software provider Oversight Systems is working with Mastercard on a solution to help federal agencies ensure U.S. government spending on purchasing cards and other expenses are in compliance with policies.

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms.

JPM snatches $1 trillion custodian business from long-time holder State Street; Harvard will lay off half of the employees managing its $35.7 billion endowment.

The deal had been delayed since Investors had been hit with a BSA-related regulatory order.

The National Credit Union Administration and credit union trade groups cheered a judge's decision to dismiss a lawsuit against the agency's member business lending rule, but ICBA is still mulling the possibility of an appeal.

Documents filed in connection with a $586 million settlement reveal how certain agents for the global money transmitter enabled extensive fraud and money laundering.

The Consumer Financial Protection Bureau is drunk on power. Let’s return the agency’s regulatory responsibilities to the states and those agencies covering the relevant industries.

Documents filed in connection with a $586 million settlement reveal how certain agents for the global money transmitter enabled extensive fraud and money laundering.

The new approach is designed to make is possible for issuers to react speed their reaction to online fraud.

Windows smashed, no injuries reported.

The global money transmitter will pay $586 million and implement an anti-fraud program in order to resolve allegations that it enabled widespread misconduct by some of its employees.

"There is an added sense of urgency now," says Barbara Roper, director of investor protection at the Consumer Federation of America.

The Western Union Company agreed to pay $586 million and admitted to a lapse in anti-money laundering controls in an agreement with the U.S. Justice Department and other U.S. authorities.

Justin Newton, founder and CEO of Netki, discusses the barriers to commercialization of bitcoin, how his startup is trying to solve the problem, why private blockchains are useful and why public ones will eventually become more valuable.

The Consumer Financial Protection Bureau and two states on Wednesday sued the nation's largest student loan servicer, Navient, for allegedly systematic failures in processing loan payments and failing to enroll borrowers in less expensive repayment plans.

Navient Corp. was sued by a U.S. regulator over allegations that the student loan giant "systematically" cheated borrowers.

While the Trump administration could relax other bank regulations, it is unlikely that it would ease up when it comes to money-laundering compliance.

Violations of Bank Secrecy Act and anti-money-laundering compliance remain a hot topic for financial institutions as regulators can bar them from branch building and bank acquisitions. Here are some notable regulatory actions that are still unresolved.