Penalties and fines

USAA's OCC fine, Citi mum on risk rehab, no digital bank for PNC: Top stories of the week

10/16/20

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.

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M&T Bank fined for flood insurance violations

10/15/20

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.

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JPMorgan pays $920 million, admits misconduct over spoofing

09/29/20

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.

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

09/23/20

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.

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

08/24/20

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.

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

07/08/20

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.

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

06/26/20

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.

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

03/23/20

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.

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

03/17/20

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

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

02/28/20

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.

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