News Topic: Financial crimes

A federal judge says the agency can’t issue national bank charters to fintechs; Facebook’s CEO will state his case at a House hearing. ... Read full article

Following an article by American Banker and ProPublica that detailed how political appointees weakened the penalties paid by two large banks, the Massachusetts senator is demanding more information from the Justice Department. ... Read full article

Employees saw the bank’s cybersecurity unit's shortcomings; the state seeking records related to hidden profits from the family's opioid business. ... Read full article

The broker and the companies he operated allegedly induced veterans to hand over their federal benefits in violation of the law. ... Read full article

Bank shares are down more than 9% this month; the Fed has never imposed the countercyclical capital buffer before. ... Read full article

Former Trump campaign chairman Paul Manafort pleaded not guilty in a New York mortgage fraud case — state charges that are beyond the reach of a presidential pardon. ... Read full article

Corporate scandals at banks and other firms often suffer from similar management challenges. The financial industry needs to look more closely at these root behaviors to help stem misconduct. ... Read full article

The seven Democrats sought details on the Fed's response to allegations the bank suppressed suspicious activity reports on businesses tied to President Trump and Jared Kushner. ... Read full article

A Wells Fargo customer was interrogated, fingerprinted and mistakenly arrested for check forgery after a series of mistakes on the bank's part. He was cleared, and Wells says it made an error, but they are now fighting in civil court. ... Read full article

Royal Bank of Scotland and JPMorgan Chase were also among the five banks that agreed to pay fines for colluding on foreign-exchange trading strategies. ... Read full article

Eileen Murray has talked about leaving Bridgewater; A deal with Roger Ng could lead to charges against Goldman and its employees. ... Read full article

Banks need to ensure those building new business are driven to look for evidence of illegal activity. ... Read full article

It remains to be seen whether anti-money-laundering provisions will get a deeper look this Congress or whether political optics will divide lawmakers on moving ahead with changes. ... Read full article

The bureau should adopt a clear, consistent framework for determining civil money penalties against financial firms. ... Read full article

Since Wells Fargo’s phony-accounts scandal broke in 2016, the bank has appeared contrite in public. In private, it’s a different story. ... Read full article

The Massachusetts senator introduced legislation Wednesday that would require executives of large corporations to serve jail time when their companies commit crimes, including for violations of civil law. ... Read full article

Edward Rostohar was arrested after his wife informed authorities he stole from CBS Employees Federal Credit Union and was preparing to flee the country. ... Read full article

The decision shows how hard it is to prosecute an individual banker; reports say Nordea, the Nordic area’s largest bank, handled suspicious transactions. ... Read full article