AML

Pakistan’s top bank to pay $225 million, end U.S. operations

09/07/17

New York’s banking regulator ordered Habib Bank Ltd. to pay $225 million and surrender its license to operate in the state, effectively removing Pakistan’s largest lender from the U.S. financial system.

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How this bank’s anti-laundering blunders became a ‘sales tool’

09/05/17

Nothing like revelations of a client’s Ponzi scheme that lead to your bank paying $4 million in anti-money-laundering fines. That’s what happened at Gibraltar Private Bank & Trust, but its CEO argues its compliance overhaul has given the bank a competitive advantage in cosmopolitan New York and South Florida.

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FDIC terminates consent order with Discover

08/30/17

The 3-year-old order was related to Discover Bank’s programs for combating money laundering. A related agreement with the Federal Reserve Bank of Chicago remains in effect.

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Minding the GAP; fretting about loans to retailers

08/29/17

CFPB and OCC are looking at auto lenders’ policies regarding so-called GAP insurance; banks want greater collateral from retailers.

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Block hate groups? It’s not so simple

08/17/17

Payment processors and banks are being called on to cut off funds to white supremacist groups, but there are practical and legal limits to what firms can do.

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Money laundering risk rises; bias charge at Goldman

08/17/17

Basel Institute says enforcement is the problem; wealth advisor says bank steered clients away from her to white colleagues and blocked her promotion.

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Money-laundering scandal hurts all banks: Aussie lobby chief

08/15/17

The Commonwealth Bank of Australia money-laundering scandal has damaged the public's perception of the whole banking sector, according to the head of the industry's lobby group.

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Democrats pressure Hensarling to investigate Russia-Trump financial ties

08/11/17

Democrats sent a letter to House Financial Services Committee Chairman Rep. Jeb Hensarling, R-Tex., asking that he investigate potential financial ties between President Trump and Russia.

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Changes coming to Wells; Barclaycard’s new chief

08/11/17

Stephen Sanger is expected to leave as nonexecutive chairman; Barry Rodrigues, a former Citigroup and American Express executive, will join the British bank in November.

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With bank subpoenas, Mueller is said to turn up heat on Manafort

08/10/17

Special counsel Robert Mueller is said to be drawing on ongoing investigations, including one by federal prosecutors into whether former Trump campaign manager Paul Manafort laundered money from eastern Europe into New York properties.

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