Technology-driven systems aren’t enough to root out anti-money-laundering violations. Congress should consider creating a program that would encourage those with knowledge of illegal behavior to come forward.
With a divided Congress in place, policymakers will face challenges in passing major financial legislation this year. But there are still a number of core issues set to be debated.
The year saw anxiety over how banks would respond to record consumer debt, disruptive glitches at TD Bank and SunTrust, ongoing scandal at Wells Fargo, and much, much more.
The Office of the Comptroller of the Currency announced Friday that it has lifted restrictions relating to U.S. Bank's flawed efforts to prevent money laundering and Citi's deceptive marketing and billing practices.
Regulators give OK, but find “shortcomings” that need to be addressed; Labor Department says the bank is laying off U.S. workers while hiring overseas.
The objectives of a Financial Crimes Enforcement Network rule requiring financial institutions to collect “beneficial ownership” details are laudable, but the regulation can be subverted by unscrupulous customers.
Sen. Elizabeth Warren is joining with a fellow Senate Democrat Chris Van Hollen in seeking a Banking Committee investigation of Deutsche Bank's compliance with U.S. safeguards against money laundering.
More acquainted with the quick decision-making style of the banking world, the comptroller of the currency found a policymaking environment in D.C. that moves at a slower pace.
Blockchain backers concede the hype is turning off bankers; Mulvaney's CFPB name change could cost industry millions of dollars; the one banking bill Congress might actually pass next term; and more from this week's most-read stories.
