AML

Washington Federal joins list of banks under BSA orders

03/01/18

The Seattle company first disclosed an issue in September, when it withdrew an application to buy Anchor Bancorp.

[more]

Citizens defends AML controls amid questions about ties to Manafort, Russian meddling

02/26/18

Shares of the Providence, R.I., company plunged Monday, following a news report that it faces possible legal risks from the latest charges filed against Paul Manafort, the former campaign manager for President Trump.

[more]

Did banks’ KYC controls fail in Russian efforts to swing election?

02/20/18

Foreign operatives' alleged use of fraudulent financial accounts to try to influence the U.S. political system shows again how difficult it is for banks to truly know their customers.

[more]

U.S. Bank's big AML fine, Mulvaney in hot seat, future of payments: Top stories of the week

02/16/18

U.S. Bank's $600 million fine for AML lapses quickly drew readers attention, while acting CFPB Director Mick Mulvaney got the Cordray treatment on Capitol Hill and big banks made moves to speed real-time payments.

[more]

U.S. Bancorp hit with AML fine; bitcoin rallies

02/16/18

Bank’s alleged lax controls enabled a former customer to launder money in a payday lending scheme; digital currency has made back a chunk of its recent decline.

[more]

U.S. Bancorp, a big bank untouched by scandal — until now

02/15/18

The bank’s unsullied image took a hit when it admitted to misleading regulators regarding its efforts to combat money laundering.

[more]

Regulators fine U.S. Bank more than $600M for AML errors

02/15/18

U.S. Bancorp. has agreed to pay $613 million in penalties to state and federal authorities for violations of the Bank Secrecy Act and a faulty anti-money-laundering program.

[more]

Oritani in N.J. hit with informal agreement to improve BSA compliance

02/12/18

The company must develop and implement a system of internal controls to ensure full BSA and anti-money laundering compliance, among other things.

[more]

'It's about time that there is sane leadership at the CFPB': Comments of the week

02/08/18

Readers react to the Consumer Financial Protection Bureau pulling back from investigating the Equifax breach, opine on the Federal Reserve's tough enforcement against Wells Fargo, weigh in on gender pay issues and more.

[more]

Lawmaker urges crypto groups to restrict hate groups

02/08/18

Rep. Emanuel Cleaver, D-Mo., sent a letter to two virtual currency trade associations on Thursday asking them what their members are doing to prevent hate groups from using cryptocurrencies to finance themselves.

[more]