News Topic: Compliance

The global money transmitter will pay $586 million and implement an anti-fraud program in order to resolve allegations that it enabled widespread misconduct by some of its employees. ... Read full article

JPMorgan Chase & Co. agreed to pay $55 million to settle U.S. allegations of racial discrimination in home loans through mortgage brokers, leading black and Hispanic borrowers to pay higher interest rates and fees from 2006 to 2009, a person familiar ... Read full article

The embattled company's new incentive pay plan appears to resemble those used by other banks, which suggests that regulators are unlikely to demand big changes throughout the sector. ... Read full article

Bitcoin exchange and digital wallet provider Coinbase has received a virtual currency and money transmitter license — commonly known as a BitLicense — from the New York State Department of Financial Services. ... Read full article

Violations of Bank Secrecy Act and anti-money-laundering compliance remains a hot topic for financial institutions as regulators can bar them from branch building and bank acquisitions. Here are some notable regulatory actions that are still unresolved. ... Read full article

House Democrats sent a letter Tuesday to President-elect Donald J. Trump, urging him to reject calls by Republicans to fire Richard Cordray. ... Read full article

Documents from Massachusetts complicate the narrative that marijuana businesses either can’t get bank accounts or are only being served by small institutions. ... Read full article

Sen. Elizabeth Warren rallied progressives on Tuesday night to launch a campaign to defend the Consumer Financial Protection Bureau and the Dodd-Frank Act. ... Read full article

Simple innovations -- such as those that would bring the underbanked into the financial mainstream -- are often stymied by regulation, says Bank of America CEO Brian Moynihan. ... Read full article