Money laundering

Wells Fargo streamlines Western unit, shifts executives as post-scandal overhaul continues; Goldman Sachs gets grief for "cynical" purchase of Venezuelan bonds at deep discount.

The bank agreed to improve anti-laundering controls deemed "unsafe" by the Fed, including oversight of so-called mirror trades that may have helped foreign customers hide large sums of money.

Jo Ann Barefoot, a former deputy comptroller of the currency, discusses her regtech startup Hummingbird.

Readers weigh in on a proposal for encouraging small bank installment loans, a firm that uses AI to reduce false alarms, what security improvements are needed for sharing customer data, and more.

House Democrats are asking Deutsche Bank Chief Executive Officer John Cryan for documents related to two internal reviews, including one into accounts held by President Trump and his family.

Merlon Intelligence, a startup launching Wednesday, plans to offer banks AI software that will help them with their expensive compliance responsibilities.

Bank agrees to pay $97 million as DOJ drops criminal charges involving money laundering at Citi uni; digital currency price roars past $2,200 as Japanese catch the bitcoin bug.

David McLaughlin, founder and CEO of QuantaVerse, discusses how artificial intelligence can improve anti-money-laundering compliance; the problems of de-risking and "defensive filing" of suspicious activity reports; the Clearing House's proposal to reduce banks' AML costs; and more.

Banamex USA will pay $97.4 million to the Justice Department over widespread anti-money-laundering abuses.

The Trump administration must weigh risks to national security in its review of the $1.2 billion deal. Its decision will shed light on whether — given the president’s “America First” rhetoric — Chinese investment is still welcome in the U.S. financial services sector.

The former New Jersey mutual is stepping up efforts to court bigger commercial clients. The move will help Investors diversify its loan book and deploy capital while it is barred from buying banks.

Advocates for the cannabis industry took to Capitol Hill on Wednesday to lobby for bank protections that would help legitimize the industry and give it access to financial services.

The laws that force banks to know their customers are good at catching petty criminals and “wannabe” terrorists, but can’t thwart sophisticated bad actors, argues whistleblower Edward Snowden.

In the way that Gap and Victoria's Secret are ubiquitous in the malls dotting the suburban landscape, it is unlikely fintech partners will be exclusive to one bank.

Money laundering in Latin America is said to be worsening and a corruption probe in Brazil adds to the worries, but Latin American banks are fighting hard to preserve business with U.S. banks.

The beneficial ownership regulation, meant to catch financial criminals, has produced data that is useful in making small-business loans, LexisNexis Risk Solutions says.

The New Jersey company's profit growth was constrained by an 11% increase in compensation and benefits and an 85% jump in consulting fees tied to compliance and other issues.

The Delaware company reported loan growth and, for the first time in months, no charges tied to an outstanding regulatory order.

Kosta Peric, deputy director of digital payments and financial services for the poor at the Gates Foundation, discusses his efforts to expand access to low-cost financial services in developing countries.

Readers sound off an attempt to block prepaid regulations, threats to consumer privacy, FSOC’s political bent, the proper use for SARs, and more.