News Topic: AML

The New Jersey company terminated an acquisition after being hit with the order in 2016. ... Read full article

Executives urged the consumer bureau at a public meeting to keep a closer eye on artificial intelligence innovations developed by fintech firms that are subject to less regulation. ... Read full article

Bank and credit union regulators issued a statement giving institutions the go-ahead to try artificial intelligence and other emerging tech to detect money laundering. It's just what some institutions have been waiting for. ... Read full article

The Fed wants more information on Treasury and mortgage-backed securities; will overlook compliance failures resulting from pilot programs. ... Read full article

The agency's semiannual report on risks in the industry focused heavily on the high volume of commercial loans as well as banks' exposure to nonfinancial corporate debt, which is near a record share of GDP. ... Read full article

The federal regulators said in a joint statement that they will take a bank's level of innovation into account in supervising its anti-money-laundering procedures. ... Read full article

The central bank may be looking at other benchmarks besides the fed funds rate to conduct monetary policy; dropping human appraisers from most home sales raises concerns. ... Read full article

As Congress weighs Bank Secrecy Act reforms, some worry that reducing suspicious transaction filings would be a gift to criminals. ... Read full article

Three former CFPB officials seek more enforcement against lenders; Federal Reserve interest rates hikes have boosted bank profits. ... Read full article

Four members of the Senate Banking Committee are trying to reach a compromise on legislation to revamp Bank Secrecy Act procedures after prior legislative efforts failed. ... Read full article

Miners of the digital currency are losing interest, which could lead to more price declines; scandal-scarred banks among those that endorse Principles for Responsible Banking. ... Read full article

Cash-outs accounted for 80% of mortgage refinances in the third quarter; state will accept bitcoin for business tax payments. ... Read full article

Record bank profits could make it tougher to get more regulatory relief; banks monitoring older clients’ mental health. ... Read full article

Société Générale pays more than $1 billion for working with Cuba and others; Fed vice chair in line for global regulator chief role. ... Read full article

The French bank was hit with a billion-dollar fine after it was found to have unsafe practices that violated sanctions against Cuba and other sanctioned countries. ... Read full article

The German lender was a correspondent bank for the Tallinn, Estonia, branch of Danske Bank that is the focus of multiple international investigations. ... Read full article

The Justice Department is seeking information about potential transactions the banks may have handled for a small Danske branch in Estonia that’s at the center of one of the biggest money-laundering investigations in history, according to two people ... Read full article

Prosecutors are unlikely to buy Goldman's rogue banker defense, observers say; survey predicts recession within two years. ... Read full article