Addressing the coronavirus; Wells workers to testify
Wall Street banks make plans to keep workers in Tokyo safe; the employees are bringing their grievances against the bank to Capitol Hill. ... Read full article
News Topic: Standard Chartered
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Goldman not yet talking 1MDB settlement; Standard Chartered plans buybacks
CEO Solomon says the bank has not yet begun discussions with DOJ about its role in the scandal; the $1 billion buyback would be its first in 20 years. ... Read full article
Lies, coaching at StanChart kept Iran cash moving, U.S. says
U.S. court filings on Tuesday revealed how little some Standard Chartered employees heeded U.S. sanctions, and how they dissembled in order to hold onto profitable clients. ... Read full article
Standard Chartered to pay $1B to end probes of Iran business
The agreement with U.S. and U.K. regulators is on top of the $667 million it paid to U.S. authorities in 2012 for its handling of transactions that violated economic sanctions against Iran. ... Read full article
Housing market signals warning; another Deutsche Bank scandal?
Loans to house flippers dropped 11% in the third quarter, indicating "possible turbulence;" the German bank may have allowed some clients to claim tax credits on stock they didn't own. ... Read full article
Bitcoin nosedive continues; nearly 30 large banks sign UN ethics code
Miners of the digital currency are losing interest, which could lead to more price declines; scandal-scarred banks among those that endorse Principles for Responsible Banking. ... Read full article
Bank earnings should be good; Goldman's priority
Slower-than-expected lending and "lackluster" trading could be concerns; new CEO David Solomon sets his sights on fixed income. ... Read full article
HSBC escapes prosecution as U.S. ends 5-year deferred deal
The move signals that the Justice Department is satisfied with the bank’s upgrades to its compliance systems after it was ensnared in a money-laundering scandal in Mexico. ... Read full article
What U.S. banks can learn from global AI experiments
Virtual assistants at banks in Israel, Canada and Hong Kong are getting smarter thanks to artificial intelligence. ... Read full article
Dumped by U.S. counterparts, Latin American banks tighten AML controls
Money laundering in Latin America is said to be worsening and a corruption probe in Brazil adds to the worries, but Latin American banks are fighting hard to preserve business with U.S. banks. ... Read full article
Laundered Russian cash flowed through major banks: Report
Cash that flowed from Russia through a vast money-laundering network sometimes ended up passing through the world's largest banks, including Citigroup, Bank of America, and HSBC, the Guardian reported, citing a cache of financial records it reviewed. ... Read full article