News Topic: AML

The focus since the 2016 election on easing rules, tax cuts and expanding access to credit is about to be turned on its head. ... Read full article

Promontory Financial Group CEO Eugene Ludwig says AI tools can remove the risks — and discrimination — involved in opening the U.S. financial system to newcomers. ... Read full article

The credit union says employee charges that its AML program is deficient are false; Michelle Moore, who helped launched the Erica digital assistant, wants more time with family. ... Read full article

The bank, one of the few that do business with digital currency exchanges like Coinbase, has developed methods for monitoring all customers’ digital currency purchases. ... Read full article

The idea of digitizing cashiers' checks is likely to meet resistance, but the Swiss startup says at least two U.S. banks are already showing interest. ... Read full article

Wells Fargo puts two top execs on leave as scandal's reach grows; regional banks freed from SIFI label lobbying regulators hard for more relief; FDIC to launch innovation office to help banks compete with fintechs; and more from this week's ... Read full article

The 25-year JPM veteran will pursue an opportunity elsewhere; private equity firms have a record $57 billion to loan for real estate. ... Read full article

A smaller provision for loan losses helped counteract declining loan volume and higher expenses during the third quarter. ... Read full article

The civil money penalty from the Office of the Comptroller of the Currency follows a 2015 consent order against the bank, which became a subject of federal questioning after it suspended its business with check cashers. ... Read full article

The regtech firm Arachnys, which in 2010 entered a field dominated by established data providers, recently raised $10 million after gradually building a collection of 23,000 data sources that helps bankers protect themselves from money launderers and other ... Read full article

The company is offering short-term installment loans to its clients’ customers; even institutions not accused of wrongdoing may pay a price. ... Read full article

Profits at big banks should be solid if not spectacular; the Vermont senator proposes a hard cap on assets held by the biggest banks. ... Read full article

The agencies issued a joint statement on the types collaborative arrangements that a bank could employ to make BSA/AML compliance more efficient. ... Read full article

Sen. Warren proposes a bill that would extend the law to credit unions while stiffening penalties; the Spanish bank taps UBS’s Andrea Orcel. ... Read full article

The plan identified five risk areas — including cybersecurity — that will be on the agenda for agency examiners next year. ... Read full article

Large retailers want the right to reject rewards cards at the point of sale to avoid higher swipe fees; Germany's financial regulator appoints an auditor to monitor the Deutsche Bank's progress. ... Read full article

The Danish bank updates amount laundered; Goldman near deal for its Simon app. ... Read full article

The comments came on the same day that Denmark’s largest bank announced the resignation of CEO Thomas Borgen and said that as much as $234 billion flowed through its tiny Estonian unit between 2007 and 2015. ... Read full article