Money laundering

FDIC Chairman Jelena McWilliams revealed an effort by the banking agencies to gain better clarity on how authorities use the huge amounts of suspicious activity reports that banks must submit under anti-money-laundering laws.

CEO Solomon says the bank has not yet begun discussions with DOJ about its role in the scandal; the $1 billion buyback would be its first in 20 years.

The suit seeks to block the banks from complying with congressional subpoenas targeting the president’s bank records, escalating his showdown with Democratic lawmakers investigating his finances.

Banks need to ensure those building new business are driven to look for evidence of illegal activity.

Wall Street moves to compete with the low-fee financial services giant; activist investor has an uphill climb for a seat at this week’s annual meeting.

The bank agreed to pay $150 million to California to settle charges it hid the risks on the sale of mortgage bonds pre-crisis; foreign suitors circle Commerzbank while Deutsche Bank seeks answers.

The central bank issued an enforcement action against Sumitomo Mitsui Banking Corp. and its New York branch, citing deficiencies related to risk management and compliance with the Bank Secrecy Act.

Banks need to ensure those building new business are driven to look for evidence of illegal activity.

Price hit "a grim reminder" about impact of soft interest rates; despite bitcoin's plunge, blockchain could be prominent in Wall Street's future.

It remains to be seen whether anti-money-laundering provisions will get a deeper look this Congress or whether political optics will divide lawmakers on moving ahead with changes.