BankThink

Lawmaker urges crypto groups to restrict hate groups

02/08/18

Rep. Emanuel Cleaver, D-Mo., sent a letter to two virtual currency trade associations on Thursday asking them what their members are doing to prevent hate groups from using cryptocurrencies to finance themselves.

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More Wells woes; DOJ busts identity thieves

02/08/18

S&P lowers the bank’s rating to A-minus following Federal Reserve sanctions on growth; 13 are arrested after alleging defrauding banks of $530 million over seven years.

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Rabobank’s AML problems result in huge fines

02/07/18

The U.S. banking arm of the Dutch lender Rabobank has forfeited nearly $370 million for anti-money laundering deficiencies that authorities say allowed untraceable money transfers on behalf of criminals.

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Equifax misled public on data breach, Warren claims

02/07/18

Sen. Elizabeth Warren released a scathing report Wednesday on Equifax's handling of the data breach last year, part of an effort to gain backing for legislation to rein in the credit bureaus.

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CFPB seeks input on ways to reform enforcement process

02/07/18

The examination of its enforcement policies is part of a comprehensive review of all agency procedures that acting Consumer Financial Protection Director Mick Mulvaney launched last month.

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How FHFA could reform housing finance if Congress doesn't

02/07/18

As conservator, FHFA Director Mel Watt has substantial leeway to remake the government-sponsored enterprises without congressional input. Here's one way he might do so.

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S&P downgrade is latest blow to Wells Fargo

02/07/18

The one-notch downgrade, announced Wednesday, came in response to the Fed's unprecedented decision to halt asset growth at the embattled bank.

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Consumer lending unit draws PE interest

02/07/18

Warburg Pincus has agreed to buy a majority stake in a mortgage and consumer loan origination and servicing platform owned by Fiserv.

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Banking had its #MeToo moment two decades ago: CIT’s Alemany

02/07/18

After facing a landmark sexual harassment lawsuit in the mid-1990s, the banking industry has improved its codes of conduct and training on sexual harassment issues, CIT Chief Executive Ellen Alemany said during a panel discussion Wednesday morning.

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U.S. announces takedown of $530 million cyberfraud network

02/07/18

The U.S. charged 36 people in a takedown of an international cybercrime ring that prosecutors say used the slogan “In Fraud We Trust” and stole $530 million with the help of pilfered identities and malware.

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