Risk

Chicago Title Insurance Co. and Chicago Title Co. LLC agreed to the payment to resolve a lawsuit brought by the bank, which said the firms had helped orchestrate a borrowing scam involving liquor licenses, according to a regulatory filing.

While most banks are afraid to touch cannabis business until federal regulations are put in place, some are turning to fintech to automate compliance until then.

Last year, just 30% of small-business owners received the total funding they were seeking, down from 51% just two years earlier, according to a new Federal Reserve survey. The findings suggest that two years into the pandemic, banks are having a difficult time assessing risk.

Adrienne Harris said the New York State Department of Financial Services will concentrate more on issues that have a big impact on people’s pocketbooks. The agency announced a move Monday that will likely save money for consumers who rely on check cashers.

Minnesota Bank & Trust dropped Mike Lindell as a customer after the committee investigating the Jan. 6, 2021, attack on the U.S. Capitol subpoenaed the Trump supporter's telephone records. But its rationale for doing so needed more explanation.

Only 12% of large and regional banks in the U.S. and Canada are running the scenario analyses that regulators are poised to recommend, according to a new survey. Observers say progress has been faster on the other side of the Atlantic, as European banks and their regulators have moved more quickly to develop a uniform system for quantifying risks.

Treasury Secretary Janet Yellen said it’s too early to contemplate adjusting capital requirements for U.S. banks based on how much risk they face from climate change.

A Citigroup employee says she provided U.S. regulators with information that led to the bank's paying a $400 million fine. Now, she wants the judge to award her a share of the penalty.

The largest bank based in oil-rich Texas is building a framework for gauging the threat that climate change poses to its business and plans to disclose more information on the subject this summer. Meanwhile, its energy loan portfolio shrank 24% year over year.

Derek Flowers, a 24-year company veteran, will replace the retiring Amanda Norton. Flowers' familiarity with the megabank's operations will help as it continues working through regulatory consent orders, CEO Charlie Scharf said.

Financial threats were low on the list of fears chief risk officers at major U.S. banks expect to face in the coming year, according to a recent survey. It’s increased regulation, data management and technology vulnerabilities that keep them up at night.

The largest U.S. banks have made progress in detailing the risks posed by climate change, but it's clear the industry will have to do more. As federal regulators prepare to impose new obligations, banks are pushing back against calls for more aggressive measures such as capital requirements and increased risk weighting for fossil-fuel lending.

The government-sponsored enterprise also unveiled two new tranche slices for investors to purchase.

Wells Fargo Chief Risk Officer Amanda Norton, who joined in 2018 to help turn around the scandal-ravaged lender, is leaving as the cleanup continues. 

Yan Zhao, President of NYDIG as she exploreshow Bitcoin is experiencing wider adoption in the traditional finance world, and why that is.

The North Carolina company has estimated the degree of exposure to flooding and hurricanes that exists in its mortgage and commercial loan books and has tallied its losses from severe storm damage in recent years. It’s one of a few regional banks to publish assessments based on the criteria of a global task force.

Credit risk management is about to get a lot more complicated for commercial lenders as major central banks raise interest rates. Banks need to learn to parse new kinds of data to avoid problem loans.

Societe Generale Chief Executive Frederic Oudea is taking over the bank’s risk and compliance functions, seeking greater control over management of the bank’s legal affairs after it paid billions of dollars in penalties.

The Financial Stability Board appointed Federal Reserve Gov. Lael Brainard to chair its standing committee on the assessment of vulnerabilities.

Investment activity that takes place outside the banking system requires a new, broad-based set of global regulations to tackle inherent instability, the Bank for International Settlements said.