Risk management

BofA agrees to settlement with former executive Omeed Malik

07/13/18

Bank of America has agreed to pay a multimillion-dollar sum to settle a defamation claim brought by former executive Omeed Malik, who was fired by the bank earlier this year, according to a person familiar with the matter.

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Bending rules isn’t worth the risk

07/13/18

Bankers should resist the urge to skirt financial regulations, including know-your-customer and lending standards, to make a sale. The danger of penalties and a possible reputational hit is too great.

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Lenders' support sought for Steinhoff restructuring plan

07/11/18

U.S. financial institutions such as Bank of America, Citigroup, JPMorgan Chase and Goldman Sachs have reported hundreds of millions of dollars of losses stemming from the scandal at retailer Steinhoff International.

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Banks pivot toward greener finance in climate action push

07/11/18

Financial institutions are beginning to get on board with the global fight against climate change, but they are still trailing pension funds and insurance companies in putting these concerns into action.

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Former PIMCO president joins Citi's board

06/29/18

Citigroup has appointed Jay Jacobs, former president of the investment management firm PIMCO, as an independent director.

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Equifax reaches deal with 8 states on steps to avoid future breaches

06/27/18

Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties.

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IBM gives its regtech an upgrade

06/22/18

The company said the aim of a redesign and additional automation is to make its compliance software easier for bankers to use.

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Will states pick up where feds left off on derivatives regulation?

06/19/18

U.S. officials are letting big banks exploit loopholes in Dodd-Frank rules that were meant to curb excessive risk-taking in derivatives, several academics and former policymakers warned. They urged state attorneys general to take action.

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The 'tyranny of success'; Wells to revamp wealth unit

06/19/18

Morgan Stanley CEO, New York Fed chief caution against failing to remember what caused the financial crisis; Wells Fargo may combine its two big wealth management businesses.

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Hill aide named to run Dodd-Frank research agency

06/18/18

The White House announcement of Dino Falaschetti as the choice to run the Office of Financial Research comes amid signs that the administration has attempted to reduce the agency's independence.

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