News Topic: Compliance

Neither the central bank’s gradual raising of interest rates, nor its modest changes to capital rules are likely to meaningfully increase risk to the financial system. ... Read full article

A long-anticipated financial rule could help law enforcement root out illegal activity, but it requires banks to keep extra-close tabs on certain business clients. That won't be easy. ... Read full article

Citizens Financial Group plans to merge its two banking charters into a single national bank. The move would make the OCC the bank's primary regulator and eliminate the costs of dealing with the FDIC and state officials. ... Read full article

The Japanese bank, owner of Union Bank in San Francisco, has hired RBC alum Roger Blissett to raise its profile among lawmakers, oversee compliance and build deeper relationships with regulators as its recent charter switch continues to stir controversy. ... Read full article

Amanda Norton will lead the charge to improve risk management at Wells Fargo after its phony-accounts and other scandals. ... Read full article

Longtime executives Bill Parker and Jennie Carlson plan to retire from the Minneapolis company, giving CEO Andy Cecere an opportunity to reshape his executive team. ... Read full article

Attorneys for then President Robert Harra said he is innocent and will file an appeal. The case centers on a scheme said to have been carried out during the crisis years, before the bank was sold to M&T. ... Read full article

The acquisition is part of IBM’s recent focus on financial risk management services. ... Read full article

Societe Generale is nearing an agreement to pay as much as $1 billion to resolve two U.S. probes — into the rigging of benchmark interest rates and allegations of bribery in Libya — according to people familiar with the matter. ... Read full article

The co-founders of Doddle, Nicki Radzely and Janna Badger, had their business account at JPMorgan Chase had been frozen, and they didn't know why. ... Read full article

Susan Zaunbrecher would replace Jelena McWilliams as chief legal officer upon the Senate's confirmation of McWilliams, the Cincinnati company said. ... Read full article

The CFPB finalized an amendment to its "Know Before You Owe," mortgage disclosure rule that gives lenders more flexibility to adjust closing cost estimates and pass on those increases to borrowers. ... Read full article

Dan Rollins engineered nearly a dozen deals while at Prosperity Bank. Now CEO at BancorpSouth, he has returned to M&A after spending four frustrating years dealing with compliance issues. ... Read full article

The Federal Trade Commission alleges in a lawsuit that the company's "no-hidden-fee" pledge is deceptive. LendingClub says the claims are unwarranted. ... Read full article

The Consumer Financial Protection Bureau on Wednesday asked for public input on the way it receives and processes complaints from consumers in what the agency said was a preliminary step toward making improvements. ... Read full article

Efforts by financial institutions to track "beneficial ownership" data in advance of a regulatory deadline next month is complicated by the challenge of getting customers to cough up the information. ... Read full article

Considering Walmart spent the better part of a decade trying to establish its own bank, it comes as no surprise that the retail giant is aiming big with its latest financial service. ... Read full article

Burdensome regulation has made it hard for community institutions to operate alongside bigger rivals, leaving consumers with less choice and more expensive banking options. ... Read full article