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TD Bank's guilty plea to extensive money-laundering charges last week did not include any criminal charges against individual bank executives. That absence has critics fuming, but experts say bringing charges against individuals isn't so easy.
October 18
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The Bank Policy Institute and The Clearing House filed a motion to join the central bank's defense of Regulation II.
October 16
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Rohit Chopra, the director of the Consumer Financial Protection Bureau, said his tenure at the agency could be characterized as simply reading statutes rather than finding novel ways to enforce regulations.
October 16
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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
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The case is one of the latest to question if firms can be held liable for costly investment decisions made by clients showing signs of mental decline.
October 7
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Depending on the data, Zelle can be seen either as a leading target for fraudsters and scammers, or better than average at stopping these criminals.
October 7
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Regulators have never held a hearing on whether to revoke the charter of a bank convicted of a money-laundering-related violation. As TD Bank nears a "global resolution" in connection with its compliance failures, it's unlikely to buck the trend.
October 4
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In a six-month pilot, NatWest and Metro Bank shared with Meta 185 URLs connected to scams, enabling the platform to take down 20,000 accounts.
October 2
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The Federal Reserve has lifted a 2013 order relating to anti-money-laundering compliance issues, including in the megabank's now-defunct Banamex USA unit.
October 1
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The new real-time payments system is being optimized for speed, not necessarily security, requiring the banks participating in the program to exercise a heightened level of vigilance.
October 1
