House passes AML reforms in defense spending bill


The National Defense Authorization Act, approved in a vote late Tuesday, includes measures to require companies to disclose their true owners at the point of incorporation and to improve information-sharing between banks and the government.


Software for detecting financial crime is in high demand. Here’s why.


Banks' fear of big penalties, the changing tactics of nimble criminals and a greater openness among regulators to new approaches are among the factors driving big investments.


New Jersey bank hit with consent order tied to BSA compliance


Unity Bancorp must improve its policies and procedures, and increase staff training, for following Bank Secrecy Act and anti-money laundering laws.


German giants tell divergent stories; European banks' U.S. units under pressure


Deutsche Bank says it’s on track to meet its financial targets while Commerzbank's top two executives resign; recent Fed stress test results show Euro banks' poor performance in U.S continues.


Fed halts dividend hikes, buybacks; regulators vote to relax Volcker Rule


The Fed stopped short of banning payouts entirely following bank stress tests; banks get greater freedom to invest in venture capital funds and reduced collateral on swap trades.


Rep. Maloney fights to hold seat in New York


A key Democrat on the House Financial Services Committee, Rep. Carolyn Maloney has a slim lead over a primary challenger, Suraj Patel, a progressive political activist and New York University Professor.


OCC, Texas bank enter into formal agreement tied to BSA compliance


CBTX in Houston must develop policies and procedures, along with a training program, to address deficiencies in its bank's compliance with the Bank Secrecy Act.


Treasury, SBA ease PPP loan forgiveness terms; U.S. faces coin crunch


Firms won’t have to repay their loans even if they don’t rehire all their laid off workers; Fed chair confirms the shortage is due to the coronavirus but is easing as the economy reopen.


BNY Mellon whistleblower gets $50 million; Citi sees an opening in EMEA


The employee assisted authorities in currency trading investigations that cost the bank $714 million; Citi is eyeing an expansion of its commercial banking ops in Europe, Middle East and Africa as other lenders exit on coronavirus fears.


Karen Peetz to join Citi in newly created role


The veteran banker will serve as chief administrative officer, with responsibilities that include strengthening Citi’s data architecture, creating greater consistency in its dealings with regulators and enhancing its efforts to combat money laundering.