News Topic: Penalties and fines
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Credit Suisse hit with historic money laundering conviction
U.K. investigates Wise CEO Kaarmann after tax breach
Citi whistleblower asks for share of $400 million penalty
Citigroup fined $45 million after decade of 'dishonest' stock deals in Hong Kong
Deutsche Bank fined $9.8 million by BaFin for control lapses
StanChart hit with $61 million fine after spreadsheet error
HSBC fined $85 million for anti-money-laundering failings
JPMorgan bosses addicted to WhatsApp fuel $200 million in fines
JPMorgan set to pay $200 million fine over lax staff monitoring
SocGen CEO takes over compliance after $2.6 billion in fines
‘Sterling Lads’ forex fix earns banks $390 million in fines
Appeals court throws out $59 million penalty in CFPB mortgage case
Outrage over OCC bid to extract higher fines from former Wells Fargo execs
What will incoming CFPB chief do with $570 million consumer aid fund?
The agency has amassed more in fines than it has returned to wronged customers. With Democrats now in power, some hope the bureau will allocate the unused money more aggressively. ... Read full article
SEC charges ex-Wells Fargo execs with misleading investors
Former CEO John Stumpf agreed to pay a $2.5 million penalty to settle civil charges tied to the bank’s fake-accounts scandal. Former community bank head Carrie Tolstedt did not agree to a settlement and is now facing a lawsuit that alleges she committed ... Read full article
JPMorgan Chase warns of upcoming fine over internal controls
The company said one of its regulators may impose a civil money penalty related to compliance deficiencies in its advisory business and other areas. The matter echoes a recent fine imposed on Citigroup, one expert says. ... Read full article
Banks rush to take fines under Trump, casting light on misdeeds
Giant banks have racked up more than $4 billion in U.S. penalties in a wave of settlements weeks before the presidential election. That says a lot about an industry that once vowed to behave after the 2008 financial crisis — and about the regulatory risks ... Read full article
USAA's OCC fine, Citi mum on risk rehab, no digital bank for PNC: Top stories of the week
USAA's regulatory troubles now include OCC fine, CRA downgrade; Citi CEO Michael Corbat and CFO Mark Mason dodged questions on cost of risk overhaul; PNC unlikely to buy a digital bank, CEO Demchak says; and more from this week's most-read ... Read full article
M&T Bank fined for flood insurance violations
The Buffalo, N.Y., bank will pay $546,000 penalty, which will be passed on to the National Flood Insurance Program to help offset costs. ... Read full article