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.
House and Senate bills contain a provision that would let financial firms in all states use digital scans of photo IDs to verify identities of prospective customers. That could ease the account-opening process for consumers in areas where branches are few and far between.
The industry derides the proprietary trading ban as costly, and the Trump administration has heard those concerns. Yet regulators must choose between subtle though expedient pin-prick changes versus a more drastic overhaul.
American Express is falling in line with Mastercard and Discover in eliminating the signature requirement for authorization on all card transactions at the point of sale, starting in April of 2018.
The five-year window on HSBC's deferred prosecution agreement connected to a money laundering case expires; profile says outgoing Fed Chairman Janet Yellen has become "a pop culture phenomenon."
In a rare show of public support for a security technology, the banks are leading a $40 million funding round for Menlo Security, provider of browser technology that keeps malware at bay — and they’re using it, too.
What’s in the Senate plan to scale back the Dodd-Frank Act and if it goes through, how will it impact bankers? American Banker reporter Ian McKendry reports on the potentially landmark legislation.
