Money laundering

The OCC said that branches in New York, Los Angeles and Chicago will be required to take certain corrective actions, but it did not hit the Japanese-owned bank with any financial penalties.

City sues seven banks for alleged price fixing on floating-rate bonds; analyst says “the most negative revelations are yet to come” in the 1MDB scandal.

If verdict stands, it could raise ceiling on anti-laundering penalties; better-than-expected results buy Barclays chief more time on current strategy.

Congressional investigations are often rushed affairs that fail to dig beneath the surface. But the hiring of a veteran investigator who has tangled with Deutsche in the past suggests that this politically charged inquiry is likely to be thorough.

Members of both parties want to make it easier for legal cannabis businesses to access financial services, but myriad obstacles stand in the way of that goal.

The European Union drew a rebuke from the U.S. for including Puerto Rico, the U.S. Virgin Islands and other overseas territories on a blacklist of 23 jurisdictions posing higher risks of money laundering and terrorist financing.

The company’s investment in a small business lender is said to be the biggest ever in Europe; the merger may raise questions from regulators, spur more mergers.

The House Financial Services Committee is hiring a Senate lawyer with deep experience conducting complex investigations to help run its upcoming probe of Deutsche Bank, according to people briefed on the matter.

The Feb. 13 hearing marks a turning point in long-running efforts in Washington to ease banks and credit unions' fears about serving the cannabis industry.

The Feb. 13 hearing marks a turning point in long-running efforts in Washington to ease bankers' fears about serving the cannabis industry.

The bipartisan legislation would establish a task force to study how bad actors exploit new technologies and reward tips that lead to criminal convictions, among other things.

The bank says regulators want information about its possible role in the money laundering scandal; Kristi Mitchem moves to BMO Global Asset Management.

Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, wants the panel to look into how Britain's move to leave the EU – which has rankled credit unions across the pond – is impacting the U.S.

Rep. Patrick McHenry, R-N.C., the ranking member of the House Financial Services Committee, urged Chairwoman Maxine Waters, D-Calif., to prioritize certain "critical areas" in the new Congress.

The Federal Reserve is examining how Deutsche Bank handled billions of dollars in suspicious transactions from Denmark's leading lender, according to people familiar with the matter, further intensifying what could be one of the biggest money-laundering scandals ever.

Attorney General-nominee William Barr signaled this week he was not likely to crack down on financial institutions serving pot businesses, but even if he is confirmed and sticks with his assurance, the situation is far from resolved

Attorney General-nominee William Barr signaled this week he was not likely to crack down on financial institutions serving pot businesses, but even if he is confirmed and sticks with his assurance, the situation is far from resolved

Some in the industry worry the Fed may balk at allowing OCC charter recipients into the payments system, but Otting downplayed those concerns.

Fragmented and manual AML processes pose a challenge to many institutions, contends Edmund Tribue, risk and regulatory practice leader for NTT.

Technology-driven systems aren’t enough to root out anti-money-laundering violations. Congress should consider creating a program that would encourage those with knowledge of illegal behavior to come forward.