News Topic: Crime and misconduct

Employees reportedly unit doctored documents; payments company buys Swedish fintech firm just before it goes public. ... Read full article

News that Wells commercial banking employees improperly altered client documents will likely embolden the most vocal critics of CEO Tim Sloan, who they say can't seem to resolve Wells' lingering problems. ... Read full article

The Securities and Exchange Commission is pitching a fake initial coin offering to educate investors on the pitfalls of too-good-to-be-true ventures. ... Read full article

The embattled company said Thursday that the asset cap imposed by the Federal Reserve will likely remain in place through “the first part of 2019.” Is this a sign of further delays to come? ... Read full article

Costs rose at the global bank, profit in North America fell 16%, and questions are mounting for new CEO John Flint ahead of the release of his strategic plan. ... Read full article

The Federal Savings Bank has been under a spotlight since it was revealed that it provided $16 million in mortgages to onetime Trump campaign manager Paul Manafort. ... Read full article

CEO Tim Sloan and board chair Elizabeth Duke fielded tough questions Tuesday on everything from the embattled bank’s culture to its ties to the private prison industry. ... Read full article

British banks that deal with the Russian oligarchs and companies on a new American sanctions list will face "consequences," according to a senior U.S. Treasury official. ... Read full article

Two Democrats on the House Oversight Committee asked the panel's Republican chairman to issue a subpoena for documents related to Stephen Calk, whose bank made loans to former Trump campaign manager Paul Manafort. ... Read full article

Royal Bank of Scotland Group has agreed to pay $500 million to the state of New York after a $5.5B agreement last year with the FHA, and another probe is pending. ... Read full article

The Minneapolis bank has been operating since October 2015 under a consent agreement that stemmed from deficiencies in its efforts to combat money laundering. ... Read full article

California State Treasurer John Chiang, who’s on the boards of the state’s biggest pension funds, was among those who said the changes weren't enough. Chiang also called for CEO Tim Sloan to step down. ... Read full article

The Securities and Exchange Commission may be focusing on the sale of options known as simple agreements for future tokens in connection with initial coin offerings. ... Read full article

Two House Democrats are asking the Pentagon for information about its contacts with Stephen Calk, CEO of a small Chicago bank that made $16 million in mortgages to President Trump's campaign manager. ... Read full article

Stephen Calk is in the national media glare because his small Chicago-based bank made two enormous loans to Paul Manafort, President Trump's onetime campaign manager and a key figure in the investigation into Russian meddling in the 2016 election. ... Read full article

The Chicago bank is denying a report that its CEO, Steve Calk, made $16 million in mortgage loans to former Trump campaign chairman Paul Manafort in exchange for a job in the White House. ... Read full article

The Puerto Rico-based bank failed in 2015. The FDIC, its receiver, is seeking unspecified economic and punitive damages from 16 lenders, including Bank of America, Barclays and Credit Suisse. ... Read full article

The wave of sexual harassment claims have forced a very public reckoning in certain industries, but financial services firms had largely escaped the spotlight. The departure of a Bank of America executive could signal that the industry has problems lurking ... Read full article