AML

Hackers hit Equifax motherlode; NYS agency boots Pakistani bank

09/08/17

Credit bureau says records of 143 million consumers were compromised; state agency penalizes Habib Bank for enabling terror financing.

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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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