Societe Generale fined $1.34B for violating U.S. sanctions


The French bank was hit with a billion-dollar fine after it was found to have unsafe practices that violated sanctions against Cuba and other sanctioned countries.


UBS sued by U.S. for fraud tied to mortgage-backed securities


UBS Group sold tens of billions of dollars' worth of residential mortgage-backed securities by "knowingly and repeatedly" making false and fraudulent statements to investors about the loans backing those trusts, the U.S. Justice Department said in a civil suit filed Thursday.


Beware the tidy narrative about Operation Choke Point


Payday lenders argue that banks cut ties with their industry due to pressure from biased and hostile regulators. But the reality, in some cases, may be more nuanced.


'You won't find a trail back to Curry or Gruenberg': Comments of the week


Readers consider to new evidence regarding Operation Choke Point, debate the impact of Democrats taking control of the House in November, respond to concerns about weakening the Volcker Rule and more.


Evidence is now clear: Operation Choke Point hurt lawful businesses


New court documents underscore the damage inflicted by the Obama administration’s de-risking initiative, argues Rep. Blaine Luetkemeyer.


Amex says DOJ, regulators probing foreign-exchange business


American Express Co. said the U.S. Department of Justice and several regulators have sought information on its foreign-exchange international payments business.


Wells faces Justice Department fraud probe of wholesale bank: Report


Investigators have sought more information from the bank in recent weeks about whether management pressured workers to improperly change documents in order to meet a regulatory deadline, according to a news report.


'Homeowners screwed again': Comments of the week


Readers react to Wells Fargo's latest penalty, weigh in on the Vatican's criticism of credit default swaps and opine on the long tail of the financial crisis.


Wells Fargo's $2B settlement may mark end of crisis-era RMBS woes


The agreement was likely the last of the big cases to be cleared by the Justice Department, and Wells paid less than its peers did to resolve the lingering mortgage probes stemming from the meltdown.


Pot banking regtech is ready for its moment


Several firms are touting tools to help financial institutions bank legal marijuana-related businesses, an industry expected to yield $10 billion in retail sales this year.