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. ... Read full article
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. ... Read full article
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. ... Read full article
Heightened regulatory scrutiny and a slowdown in commerce have raised concerns about the viability of doing business along the U.S. Mexico border. ... Read full article
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. ... Read full article
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 ... Read full article
The Fed is moving to prepare banks for unexpected shocks tied to weather; rules would be eased for trades between affiliates. ... Read full article
The California company was issued a consent order after it failed to meet the conditions of a January 2018 informal agreement. ... Read full article
The head of the agency's innovation office said the program will be available only to OCC-regulated institutions. ... Read full article
FDIC Chairman Jelena McWilliams revealed an effort by the banking agencies to gain better clarity on how authorities use the huge amounts of suspicious activity reports that banks must submit under anti-money-laundering laws. ... Read full article
CEO Solomon says the bank has not yet begun discussions with DOJ about its role in the scandal; the $1 billion buyback would be its first in 20 years. ... Read full article
The suit seeks to block the banks from complying with congressional subpoenas targeting the president’s bank records, escalating his showdown with Democratic lawmakers investigating his finances. ... Read full article
Wall Street moves to compete with the low-fee financial services giant; activist investor has an uphill climb for a seat at this week’s annual meeting. ... Read full article
The bank agreed to pay $150 million to California to settle charges it hid the risks on the sale of mortgage bonds pre-crisis; foreign suitors circle Commerzbank while Deutsche Bank seeks answers. ... Read full article
The central bank issued an enforcement action against Sumitomo Mitsui Banking Corp. and its New York branch, citing deficiencies related to risk management and compliance with the Bank Secrecy Act. ... Read full article
Banks need to ensure those building new business are driven to look for evidence of illegal activity. ... Read full article
Price hit "a grim reminder" about impact of soft interest rates; despite bitcoin's plunge, blockchain could be prominent in Wall Street's future. ... Read full article
It remains to be seen whether anti-money-laundering provisions will get a deeper look this Congress or whether political optics will divide lawmakers on moving ahead with changes. ... Read full article
In a roundtable discussion, the heads of four banks called on Congress to move on CRA modernization and address the cannabis conundrum, while dismissing arguments that midsize banks need to merge to stay competitive. ... Read full article
The Treasury secretary told the House Financial Services Committee that he has been in coordination with the U.S. bank regulators to soften the impact of the United Kingdom potentially failing to strike a deal on its exit from the European Union. ... Read full article
