BSA compliance costs take toll on Investors Bancorp earnings


The New Jersey company reported lower quarterly profit that included professional fees tied to addressing an informal order from regulators.


‘Neither Mad Max nor Orwell’: ID startup walks a fine line


GlobalID stands out from scores of similar companies and projects by attempting to wed self-sovereignty with regulatory compliance. If its technology works, it could alleviate a major cost for banks.


Raft of AML violations lands bitcoin exchange a $110M fine


The fine for BTC-e was the Treasury’s first action against a money-services business located in a foreign country, and the second against a virtual currency exchange.


HSBC monitor report will remain sealed, appeals court rules


A monitor's report detailing HSBC's compliance with a 2012 agreement with U.S. prosecutors to fix faulty money-laundering controls isn't a judicial document and shouldn't be made public, a federal appeals court said.


Senators ask AG Sessions to halt Choke Point


Despite assurances that the Department of Justice crackdown on banks' third-party relationships is ceasing, lawmakers say it is still having an impact.


Fed official calls for Fannie, Freddie fix: DOJ in AML bank probe


Jerome Powell says it's “now or never” to cut the government’s role in mortgage finance; Justice Department is monitoring eight banks for suspected money laundering.


Payday lenders score small victory in Choke Point saga


A judge has approved the inclusion of new payday lenders in a case seeking relief from the effects of Operation Choke Point, and denied defendants' motion for summary judgment against Advance America.


Big banks on board with House beneficial ownership bill


The bill would help financial institutions with customer due diligence and identifying corporate beneficial ownership of business customers.


House Dems pressure Deutsche Bank over Russia AML investigation


House Democrats are ultimately hoping that the Deutsche investigation will provide more information about President Trump’s business dealings with Russia.


How liability stands in way of banks’ digital ID ambitions


Portable digital identities could improve customer experience, cut costs and generate revenue for banks. But who’s on the hook when something goes wrong?