AML

Regulators want Sewing to give up a title; Changes to JPM balance sheet

11/04/19

The ECB and BaFin say dual roles “could undermine” bank's restructuring efforts; JPM shifts cash into long-term bonds because of capital rules.

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Scharf signals ‘sense of urgency’ at Wells; Europe weighs new AML agency

11/01/19

CEO tells employees he wants them to be 'impatient' in fixing the bank’s woes; the new independent body would police banks’ compliance with AML regulations.

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Mnuchin open to easing liquidity rules; BofA employees rewarded

10/30/19

Treasury Secretary says regulators could look to help ease liquidity logjam in money markets; workers will get special bonuses for the third straight year.

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Shell-company bill drives wedge between banking, small business

10/28/19

Beneficial-ownership legislation is within the banking industry’s reach, but the prospect of new regulatory burdens for small businesses is forcing lawmakers to choose sides.

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The fight against financial crime has just begun

10/28/19

Regulators globally are using "tech sprints" to test new anti-money-laundering solutions. More can be done, but it's a good start.

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Citi consumer unit in good shape; Wells' layoffs

10/28/19

Division is making progress, helped by a rise in branded credit cards; about 200 bankers in agriculture and energy lending let go in recent months.

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Regulators’ push for innovation shouldn’t come at expense of prudence

10/25/19

It's time to establish a fintech commission.

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Zuckerberg fails to assuage lawmakers on Libra

10/23/19

As Congress continues to seek answers about the proposed ccryptocurrency, the appearance by Facebook’s CEO cast further doubt on the project’s future.

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House passes bill to crack down on shell companies

10/22/19

The Corporate Transparency Act would require companies to report their true owners to the Financial Crimes Enforcement Network, removing the burden of banks to collect beneficial ownership information about their clients.

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Mnuchin blasts Libra plan ahead of Facebook CEO's testimony

10/22/19

The Treasury secretary repeated his concerns about the social media giant's proposed cryptocurrency, one day before Mark Zuckerberg is expected to face tough questioning from House lawmakers.

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