The employee assisted authorities in currency trading investigations that cost the bank $714 million; Citi is eyeing an expansion of its commercial banking ops in Europe, Middle East and Africa as other lenders exit on coronavirus fears.
The agency's effort to engage with lawmakers on a whistleblower award program is one of three initiatives the bureau announced to advance its strategy of preventing consumer harm.
A former call center worker says he lost his job last year after reporting that employees were given incentives to market credit cards to ineligible borrowers.
Readers debate the odds of legislative reform to Fannie Mae and Freddie Mac, consider the growing problem of "friendly fraud," weigh ways to avoid reputation problems and more.
Wells Fargo CEO Tim Sloan said that the megabank has worked to address past issues and is equally committed to preventing new problems from arising, despite reports suggesting otherwise.
In a lengthy report released Wednesday, the bank pledged to protect whistleblowers, better handle customer complaints and re-examine its lending practices.
Technology-driven systems aren’t enough to root out anti-money-laundering violations. Congress should consider creating a program that would encourage those with knowledge of illegal behavior to come forward.
Bank hit, but CEO Jes Staley escapes NYS fine for trying to unmask a whistleblower; Malaysia will pursue criminal complaints against Goldman in other countries.
