AML

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 criminals.

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

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

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.

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.