Money laundering

As Democrats keep the heat on the German bank over allegations that it suppressed reporting tied to Trump businesses, the Treasury secretary said he will direct the Financial Crimes Enforcement Network to look into the matter.

Trump may nominate Judy Shelton, who prefers “market-determined rates”; a software glitch may have prevented flagging of suspicious transactions for a decade.

Democrats pressed law enforcement on whether senior Deutsche Bank executives quashed suspicious activity reports filings related to President Trump.

New president suggests less regulation and meets with bank leaders; state and city check for illegal lending activity.

Sens. Sherrod Brown, D-Ohio, and Chris Van Hollen, D-Md., called on the bank to explain a report that the private wealth management division quashed anti-money-laundering reports prepared by compliance staff.

Banks would be better able to comply with anti-money-laundering laws if all 50 states collected information on the owners of new corporations and published it in a national database, Comptroller Joseph Otting said Monday.

Advancements are bringing improvements to risk and user experience, but global reach remains a top priority, writes Marc Recker, global head of institutional market management and cash management for Deutsche Bank.

National Credit Union Administration Chairman Rodney Hood’s testimony Thursday was reportedly the first time in three years the agency has appeared before the House Financial Services Committee.

Agency says it will vet Timothy Sloan’s successor; Eric Blankenstein, who came under fire for 2004 racist blogs, to step down.

Rep. Carolyn Maloney said Tuesday that her legislation aimed at restricting anonymous shell companies could get a vote in the Financial Services Committee as early as the end of June, after consideration was postponed last week.

Wells Fargo creates unit to satisfy regulatory demands; U.S. Bank employee fired after blowing whistle on sales scheme, lawsuit says; what BBVA's new U.S. CEO has on tap; and more from this week’s most-read stories.

The bank may end its venture with First Data to work on its own; State Street and BNY Mellon's fee revenue from investor clients and stock prices are down.

Heightened regulatory scrutiny and a slowdown in commerce have raised concerns about the viability of doing business along the U.S.-Mexico border.

House lawmakers postponed a committee vote on legislation to require beneficial ownership disclosures, nearly a year after a different anti-money-laundering bill stalled over a similar provision.

Lawmakers are poised to advance a bill requiring that commercial customers identify their beneficial owners — taking that burden away from their financial institution — but the anti-money-laundering reform arguably most favored by banks has fallen off the radar.

A new study shows credit unions are confident about their ability to comply with recent changes to FinCEN guidance, but a closer look shows some concerns linger, especially regarding training front line staff.

The Fed is moving to prepare banks for unexpected shocks tied to weather; rules would be eased for trades between affiliates.

There is anticipation that the Consumer Financial Protection Bureau could release its debt collections proposal later this week.

The California company was issued a consent order after it failed to meet the conditions of a January 2018 informal agreement.

The head of the agency's innovation office said the program will be available only to OCC-regulated institutions.