Citigroup agreed to pay a penalty of almost $5.4 million to settle a South African antitrust investigation that said it participated in an alleged cartel to manipulate the value of the rand.
Chief Executive Officer Stuart Gulliver is still battling to reverse five years of declining revenue as he pares back HSBC’s sprawling global footprint and reduces expenses.
As the Bank Secrecy Act approaches its 50th anniversary, legitimate questions have arisen about the efficacy of anti-money-laundering requirements and the burden of compliance.
President Trump is considering bankers and financiers, not economists, to fill vacant Fed seats; the ABA is launching an ad campaign to roll back the Durbin Amendment on swipe fees.
