BankThink

Detecting business dealings with banned parties means screening a maze of transactions, and Treasury’s Office of Foreign Assets Control supports calls for the industry to take a risk-based approach. But regulators effectively require banks to track everything, which is unproductive.

The California company said the issue involves a line of credit it funded earlier this year and that it is working with law enforcement authorities on the matter.

Several prominent Wall Street companies are considering moving some business to Florida, or are relocating outright.

The ongoing national conversation about race and social justice has increased calls for boards of directors that better reflect credit union membership. But any really change won't happen quickly.

Efforts to simplify business operations under incoming CEO Jane Fraser will cost a lot of money but will ultimately create a safer, more profitable company, Chief Financial Officer Mark Mason said.