All Banking articles – Page 5
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PremiumBank mergers will receive more antitrust scrutiny under new FDIC rule
Federal banking regulators approved a new rule for bank mergers that will require additional scrutiny of mergers for antitrust issues for large and mid-sized banks.
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Blog
Butterfield announces risk chief
The Bank of N.T. Butterfield & Son Limited announced the appointment of Andrew Burns to chief risk officer, Cayman Islands, effective Oct. 1.
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News BriefFINRA fines Wells Fargo unit $3M for repeatedly pushing ‘unsuitable’ investments
A Wells Fargo subsidiary will pay nearly $3 million to settle allegations that it failed to properly supervise an employee attempting to sell unsuitable investment products to retail investors–the fifth time it has been penalized for similar supervisory failings since 2020.
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News BriefWells Fargo agrees with OCC to shore up BSA/AML, sanctions program deficiencies
The Treasury Department’s Office of the Comptroller of the Currency ordered Wells Fargo to make “comprehensive corrective actions” to its Bank Secrecy Act/anti-money laundering and U.S. sanctions programs, along with receive permission from the OCC to offer new products and services or enter new geographic markets with “medium or high” ...
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News BriefCFPB orders TD Bank to pay $28M for sending false info to credit agencies
TD Bank has been ordered to pay $27.7 million and implement compliance measures, for providing inaccurate, negative credit information to credit agencies about tens of thousands of its customers and taking too long to fix the errors, the Consumer Financial Protection Bureau said.
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News BriefFINRA dings JPMorgan Securities $190K over registration, supervision failures
The Financial Industry Regulatory Authority fined JPMorgan Securities $190,000 for unregistered investment banking activities and not having a supervisory system reasonably designed to achieve compliance with FINRA registration requirements.
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WebcastCPE Webcast: The acronyms that changed the finance industry: from AML and BSA to KYC and BaaS
In the ever-evolving landscape of finance, governance, risk, and compliance (GRC) have emerged as critical pillars that underpin the stability and growth of financial institutions.
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Blog
Mashreq Egypt names CRO
Mashreq Egypt announced the appointment of Amr Hassan as chief risk officer.
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News BriefBarr speech signals Fed to rework capital rules after pressure from industry
Facing intense pressure from the banking industry, the Federal Reserve Board may scale back two controversial rule proposals aimed at reducing risks of bank failures in the event of a market downturn.
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Blog
Tuum appoints compliance, risk head
Core banking platform provider Tuum announced the appointment of Stephen Frame as its new head of compliance and risk.
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Blog
Hancock Whitney Bank’s first legal chief to retire
Hancock Whitney Bank announced that Senior Executive Vice President and Chief Legal Officer Joy Lambert Phillips will retire from the company on Sep. 6.
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News BriefSEC penalizes seven firms $3M total for impeding whistleblower protections
Seven public companies will pay a total of $3 million in fines for requiring employees to sign agreements containing provisions that impeded their ability to report misconduct to the Securities and Exchange Commission.
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Blog
CPB adds chief risk officer
Central Pacific Bank appointed Ralph Mesick as its senior executive vice president and chief risk officer.
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Blog
Alisa Bank announces general counsel
Alisa Bank appointed Katja Vähäsilta as general counsel and member of the management team, effective Oct. 1.
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PremiumStrengthening BSA/AML defenses: Critical role of ERTs in modern day compliance
Enforcement actions in the first half of of 2024 by the Treasury Department’s Financial Crimes Enforcement Network highlight the importance of proactive measures in Bank Secrecy Act compliance rather than just being compliant.
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News BriefFed's new capital requirement latest fallout from 2023 banking failures
The Federal Reserve Board will require more than 30 of country’s largest banks to maintain a minimum percentage of capital in reserve, a percentage which the Fed calculated based on their complexity and whether they are considered a global systemically important bank.
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OpinionIan Sherr joins Compliance Week as its new editor-in-chief
New Compliance Week Editor-In-Chief Ian Sherr shares his thoughts on where compliance is headed as businesses meet the realities of not just following the rules, but staying ahead of the pace of regulatory change at a global scale.
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Blog
N26 promotes risk head to chief regulatory officer
Digital bank N26 announced that Chief Risk Officer Carina Kozole has been named as its chief regulatory officer.
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News BriefCFTC orders BNY to pay $5M over reporting failures
BNY, formerly BNY Mellon, will pay a $5 million fine to the Commodity Futures Trading Commission for “significant reporting failures” related to its swap dealer business.
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News BriefNordea Bank to pay $35M to resolve NYDFS probe into AML shortcomings
Finland-based Nordea Bank will pay $35 million to resolve an investigation by the New York Department of Financial Services into “significant compliance failures” in its anti-money laundering and Bank Secrecy Act program.