Penalties and fines

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 stories.


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.


JPMorgan pays $920 million, admits misconduct over spoofing


The monetary penalty is the biggest ever imposed by the CFTC. It's part of an accord that ends a criminal investigation of the company that has led to six employees being charged for allegedly rigging the price of gold and silver futures for years.


JPMorgan is set to pay $1 billion in record spoofing penalty


JPMorgan Chase is poised to pay close to $1 billion to resolve market manipulation investigations by U.S. authorities into its trading of metals futures and Treasury securities, according to three people with knowledge of the matter.


Wells Fargo asset cap is now one of the costliest bank penalties


By one method of estimating, Wells Fargo has missed out on roughly $4 billion in profits — and counting — since the cap was imposed, and it's unclear when the Fed will lift it.


Deutsche Bank fined for Epstein dealings; FICO unveils 'Resilience Index'


The German bank agreed to pay $150 million to New York State for its dealings with Jeffrey Epstein; the new tool will help lenders determine which borrowers are in the best shape to weather a crisis.


Fed halts dividend hikes, buybacks; regulators vote to relax Volcker Rule


The Fed stopped short of banning payouts entirely following bank stress tests; banks get greater freedom to invest in venture capital funds and reduced collateral on swap trades.


Banks reward front-line employees; Wells asks Fed for asset cap relief


BofA, JPMorgan said they are paying bonuses to branch and call center employees; the bank says removing the $1.9 trillion limit on growth will help it lend to more customers in need.


Wells Fargo cancels $15 million bonus to former CEO Tim Sloan


After resigning last year under pressure from federal policymakers, the former executive received no severance benefits or annual incentive award.


Wells in N.Y. state of mind, coronavirus, election 2020: Top stories of the week


How New York became Wells Fargo's new center of power; banks walk fine line in preparing for a coronavirus outbreak in U.S.; bankers on Bernie's electoral chances and whether a Sanders presidency would pose a threat; and more from this week's most-read stories.