News Topic: Crime and misconduct

The trial of Stefan Buck was an unusual courtroom showdown in the decade-old fight by the U.S. against tax evasion aided by financial institutions in Switzerland. ... Read full article

The San Francisco company said Friday that it has terminated Franklin Codel, effective immediately, over an interaction he had with a former employee regarding that employee's termination. ... Read full article

Four executives who sold stock after the company discovered a security breach had no knowledge of the incident when they made the trades, the company said. However, the status of federal investigations is unclear. ... Read full article

The accord is the latest development in investigations by governments across the globe into banks’ manipulation of benchmark interest rates. ... Read full article

As many as a dozen financial institutions are deploying IBM’s Watson to search for signs of employee misconduct so they can avoid a Wells Fargo-size scandal. But the legal and technical limits of its use are major issues. ... Read full article

Wilmington Trust and some of its executives had been accused of intentionally understating past-due loans in 2009 and 2010. ... Read full article

The bank plans to contact all customers who paid fees for rate lock extensions during a three-and-a-half year period and to refund any who believe they should not have been charged. ... Read full article

Ocwen Financial reached a settlement with 10 states where it can't acquire servicing rights for eight months but it will not face any financial penalties. ... Read full article

Armed heists are becoming less common, but the overall number of robbery attempts has ticked back up in recent years. The opioid epidemic is a likely reason, according to an industry expert. ... Read full article

Wells Fargo CEO Tim Sloan has told employees that a third-party review of unauthorized accounts will be published “within a few weeks.” ... Read full article

Chairman Stephen Sanger could step down ahead of the embattled bank's next annual meeting, according to a news report, clearing the way for the elevation of Duke, the current vice chairman and a former Fed governor and banking executive. ... Read full article

Retail banking chief Mary Mack made several changes, including restructuring leadership in the Western region, where some of the worst incidents in the Wells scandal were said to have occurred. ... Read full article

Brian Moynihan won praise from the Wells Fargo CEO for his handling of subprime, legal and other post-crisis issues during his first years as Bank of America's top executive. ... Read full article

A $26 million settlement by Santander Consumer is shining a light on the hard-to-measure problem of auto dealer fraud, while also raising questions about the adequacy of lenders' efforts to combat bad behavior. ... Read full article

The San Francisco bank is adding $32 million to a previously announced agreement, and also extending it back to 2002, in the wake of a report on the roots of the firm's sales scandal. ... Read full article

A review of activity that long ago would not shed additional light on the scope of misconduct in Wells Fargo's retail banking unit, CFO John Shrewsberry said in an interview. ... Read full article

The 110-page document offers plenty of new details about what went wrong at the megabank but may leave shareholders wanting a truly independent investigation. ... Read full article

A recent study concluded that female financial advisers are fired for misconduct far more often than their male counterparts, even though their missteps cost less on average. Researcher Mark Egan explains the double standard. ... Read full article