All Banking articles – Page 11
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Blog
New York Community Bancorp announces general counsel
New York Community Bancorp announced the appointment of Bao Nguyen as SEVP, general counsel and chief of staff.
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Blog
First Bank of Nigeria promotes risk chief to acting CEO
First Bank of Nigeria promoted its Chief Risk Officer Olusegun Alebiosu to acting chief executive officer.
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PremiumFCA exploring how Big Tech data can aid financial services
The U.K. Financial Conduct Authority reemphasized its desire to work with Big Tech firms to examine how their data might be useful to the financial industry.
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News BriefBaFin fines Commerzbank $1.6M over supervision, AML lapses
Germany’s financial supervisory authority issued total fines of €1.45 million (U.S. $1.6 million) against Commerzbank AG to settle allegations of inadequate monitoring and anti-money laundering controls.
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News BriefOCC cites three banks for risk management, BSA-related failures
The Office of the Comptroller of the Currency cited three banks for unsafe and unsound business practices that mirror issues similar to what spurred last year’s banking crisis.
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News BriefFinCEN warns of fake U.S. passport cards used to commit fraud
The Financial Crimes Enforcement Network is warning financial institutions of counterfeit U.S. passport cards used to commit fraud and identity theft.
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Blog
Patriot National Bancorp names acting risk, compliance chief
Patriot National Bancorp disclosed Joshua Oliver will be acting chief risk and compliance officer upon the resignation of Judith Corprew.
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Blog
Bank of Maharashtra appoints risk chief
India-based Bank of Maharashtra announced the appointment of Subhasish Roy as chief risk officer.
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News BriefFINRA orders Barclays unit to pay $700K over conflicts of interest
A Barclays unit agreed to pay $700,000 to settle allegations levied by the Financial Industry Regulatory Authority that its research analysts violated conflict-of-interest rules and the firm failed to sufficiently supervise their trades.
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News BriefU.S., U.K. ban new Russian metal imports
The U.S. Treasury Department, in coordination with the United Kingdom, is clamping down harder on Russia’s ability to wage war against Ukraine by banning the import of Russian-origin aluminum, copper, and nickel.
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PremiumSEC official breaks down agency calculus for off-channel comms penalties
Sanjay Wadwha, deputy director of the SEC’s Enforcement Division, discussed the agency’s rationale for issuing widely disparate penalties for off-channel communications recordkeeping violations, as well as violations of its amended marketing rule.
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Blog
German American names chief risk officer
German American Bancorp announced Mary Moorhouse was appointed senior vice president, chief risk officer.
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PremiumU.K. sets recommendations to address misogyny in finance
Sexism, sexual assault, and bullying are rife at financial services organizations, according to a recent report by the U.K. Treasury Committee. “The government and financial regulators have important roles to play in driving change,” the committee said.
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Blog
TradeXBank AG appoints chief risk officer
Switzerland-based TradeXBank AG announced the appointment of Viviane Gabard as chief risk officer.
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PremiumOCC’s Hsu: ‘Sense of fairness’ key to bank compliance initiatives
Acting Comptroller of the Currency Michael Hsu argued banks should adopt a “strong sense of fairness” to bolster the effectiveness of their compliance programs, particularly regarding lending decisions guided by AI and machine learning tools.
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Blog
Fifth Third appoints chief sustainability officer
Fifth Third Bank announced Pratik Raval as chief sustainability officer.
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Premium
FDIC proposes strengthening, modernizing bank merger reviews
The Federal Deposit Insurance Corporation proposed to strengthen its approach to evaluating bank mergers under the Bank Merger Act, particularly how it would address factors like competition, financial resources, the convenience and needs of communities, financial stability, and money laundering.
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PremiumChapter 4: Investigations into misconduct: What banks can do
Both JPMorgan Chase and Deutsche Bank retained their respective Jeffrey Epstein relationships for too long. Yet, there is a case to be made for why exiting a high-risk relationship too soon can become an inverse form of recklessness.
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Blog
Butterfield names general counsel, group legal chief
The Bermuda-based Bank of N.T. Butterfield & Son Limited announced the appointment of Simon Des-Etages to general counsel and group chief legal officer.
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PremiumChapter 3: Egregious failures: Customer due diligence and transaction monitoring
Why did JPMorgan Chase retain Jeffrey Epstein for more than a dozen years? How did the relationship persist despite glaring red flags? The “why” is straightforward; the “how” is more complicated.