AML

German giants tell divergent stories; European banks' U.S. units under pressure

07/06/20

Deutsche Bank says it’s on track to meet its financial targets while Commerzbank's top two executives resign; recent Fed stress test results show Euro banks' poor performance in U.S continues.

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Fed halts dividend hikes, buybacks; regulators vote to relax Volcker Rule

06/26/20

The Fed stopped short of banning payouts entirely following bank stress tests; banks get greater freedom to invest in venture capital funds and reduced collateral on swap trades.

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Rep. Maloney fights to hold seat in New York

06/24/20

A key Democrat on the House Financial Services Committee, Rep. Carolyn Maloney has a slim lead over a primary challenger, Suraj Patel, a progressive political activist and New York University Professor.

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OCC, Texas bank enter into formal agreement tied to BSA compliance

06/19/20

CBTX in Houston must develop policies and procedures, along with a training program, to address deficiencies in its bank's compliance with the Bank Secrecy Act.

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Treasury, SBA ease PPP loan forgiveness terms; U.S. faces coin crunch

06/18/20

Firms won’t have to repay their loans even if they don’t rehire all their laid off workers; Fed chair confirms the shortage is due to the coronavirus but is easing as the economy reopen.

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BNY Mellon whistleblower gets $50 million; Citi sees an opening in EMEA

06/05/20

The employee assisted authorities in currency trading investigations that cost the bank $714 million; Citi is eyeing an expansion of its commercial banking ops in Europe, Middle East and Africa as other lenders exit on coronavirus fears.

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Karen Peetz to join Citi in newly created role

06/03/20

The veteran banker will serve as chief administrative officer, with responsibilities that include strengthening Citi’s data architecture, creating greater consistency in its dealings with regulators and enhancing its efforts to combat money laundering.

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Michigan bank hires turnaround expert to tackle long list of challenges

06/01/20

Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.

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6 key Senate races for bankers to watch

05/29/20

Several Senate Banking Committee members from both parties are facing tough reelection challenges in a year when control of the entire chamber — and the banking policy agenda — may be up for grabs.

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Should banks fear a blue wave in November?

05/21/20

If Democrats retake both the White House and Senate in the 2020 election, analysts see threats to the industry from the appointment of new regulators and possible reversal of Trump-era deregulation. But legislation imposing new rules on financial institutions would face long odds.

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