Wells under renewed fire; Société Générale to slash almost 1,600 jobs
Three regulators warn Wells it hasn’t made enough progress on consent order; poor fourth quarter investment banking revenue ignites cutbacks. ... Read full article
News Topic: Societe Generale
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Societe Generale fined $1.34B for violating U.S. sanctions
The French bank was hit with a billion-dollar fine after it was found to have unsafe practices that violated sanctions against Cuba and other sanctioned countries. ... Read full article
Bankers quietly prep for Saudi forum while their bosses pass
In public, finance industry leaders have bailed on a key Saudi Arabian investment conference next week. Behind the scenes, dealmakers bringing in the hard cash are fretting — and still going. ... Read full article
Rod Rosenstein signals era of big corporate penalties is ending
Deputy Attorney General Rod Rosenstein thinks some companies are overpaying for their crimes, and he wants that to stop. ... Read full article
SocGen is said ready to pay up to $1 billion to end U.S. probes
Societe Generale is nearing an agreement to pay as much as $1 billion to resolve two U.S. probes — into the rigging of benchmark interest rates and allegations of bribery in Libya — according to people familiar with the matter. ... Read full article
Mulvaney asserts control over CFPB; trouble at Wells FX unit
Judge says he will move quickly on who should head the agency; group allegedly overcharged hundreds of clients. ... Read full article
Would consumers pay $13 a year for a safer debit card?
U.S. banks face a tricky calculus in deciding whether to adopt expensive technology aimed at reducing online fraud. ... Read full article