News Topic: AML

Hard sell ahead for BB&T-SunTrust as ‘Truist’ lands with a thud; Citizens looks to poach BB&T-SunTrust talent; what the Senate AML bill means for banks; and more from this week’s most-read stories. ... Read full article

Visa, Mastercard and PayPal are each putting up $10 million to back the cryptocurrency; company “gearing up” to reboot its flagging small business lending unit. ... Read full article

Bills to fix the National Flood Insurance Program and combat the money-laundering risks from shell companies enjoyed bipartisan support during a House Financial Services Committee debate. ... Read full article

Several prospects, including JPM’s Gordon Smith, are reluctant to take on a thankless job; lower interest rates, quiet trading will yield disappointing results. ... Read full article

The president says the Fed is giving China a competitive advantage; bank stocks gained after tariffs on Mexican imports nixed. ... Read full article

The good news for financial firms is Congress has moved closer to reforming anti-money-laundering rules. But left behind in the effort is the reform most coveted by the industry. ... Read full article

The legislation includes a beneficial owner requirement and steps to study the utility of industry reporting, but avoids relieving banks’ burden to file data on suspicious transactions. ... Read full article

Despite tension between the U.S. and trading partners, bank are doing booming business in financing cross-border commerce; some Republican lawmakers are getting antsy at the pace of rollbacks for bank regulations, and are pushing regulators for a sense of ... Read full article

Digital Asset Holdings eyes blockchain for 'smart contracts'; readying for a marathon is like competing for a big client. ... Read full article

The seven Democrats sought details on the Fed's response to allegations the bank suppressed suspicious activity reports on businesses tied to President Trump and Jared Kushner. ... Read full article

Its CEO says organic growth is preferable, but after spending five years tackling a series of enforcement actions tied to BSA compliance, the Pennsylvania bank has options. ... Read full article

Christian Sewing ready to make "tough cutbacks" while UBS may need a new strategy; SEC says Robert C. Morgan misled banks with fake loan papers. ... Read full article

As Democrats keep the heat on the German bank over allegations that it suppressed reporting tied to Trump businesses, the Treasury secretary said he will direct the Financial Crimes Enforcement Network to look into the matter. ... Read full article

Trump may nominate Judy Shelton, who prefers “market-determined rates”; a software glitch may have prevented flagging of suspicious transactions for a decade. ... Read full article

Democrats pressed law enforcement on whether senior Deutsche Bank executives quashed suspicious activity reports filings related to President Trump. ... Read full article

New president suggests less regulation and meets with bank leaders; state and city check for illegal lending activity. ... Read full article

Sens. Sherrod Brown, D-Ohio, and Chris Van Hollen, D-Md., called on the bank to explain a report that the private wealth management division quashed anti-money-laundering reports prepared by compliance staff. ... Read full article

Banks would be better able to comply with anti-money-laundering laws if all 50 states collected information on the owners of new corporations and published it in a national database, Comptroller Joseph Otting said Monday. ... Read full article