Michigan bank hires turnaround expert to tackle long list of challenges


Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.


6 key Senate races for bankers to watch


Several Senate Banking Committee members from both parties are facing tough reelection challenges in a year when control of the entire chamber — and the banking policy agenda — may be up for grabs.


Should banks fear a blue wave in November?


If Democrats retake both the White House and Senate in the 2020 election, analysts see threats to the industry from the appointment of new regulators and possible reversal of Trump-era deregulation. But legislation imposing new rules on financial institutions would face long odds.


The Bancorp freed from 2014 consent order tied to BSA compliance


The order's removal allows the Delaware company to pursue more opportunities in its payments business.


Coronavirus scams are proliferating. Smart tech can stop them.


Artificial intelligence and machine learning are some examples of technology available now to help combat money launderers profiting from the pandemic.


AI startup Deep Labs lands $16M in funding commitments


The company, which develops "persona-based intelligence," software counts Visa and American Express among its clients.


Fed reprimands Deutsche Bank; Senate Democrats want PPP answers


The German bank’s money laundering controls are still not up to snuff, among other problems; three Democrats say banks may have shortchanged small-business borrowers.


EU plans joint money-laundering cop after years of bank scandals


The European Union is taking another small step toward setting up a common authority to fight money laundering in the bloc, after a string of revelations over the last two years exposed fundamental flaws of its framework.


PPP reload nearing; Treasury eyes blocking stimulus check garnishment


The administration and Congress are said to be close to adding $310 billion to the small business loan program; the department is looking at whether it can prevent banks from seizing government checks.


Community banks call for AML relief in next coronavirus aid package


A trade group says suspending so-called beneficial owner rules would help financial institutions make more small-business loans through the Paycheck Protection Program.