All Banking articles – Page 53
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Reliant Bancorp names chief accounting officer, controller
Reliant Bancorp named David Kowalski as chief accounting officer and controller.
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ArticleTroika Laundromat reveals the gaps in AML compliance
A recent report from several investigative journalists details the AML scandal behind Troika Dialog, once Russia’s largest private investment bank, and is just one small look into the much bigger problem of corruption across the globe.
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What Swedbank is saying about its multiple investigations
It has been a tumultuous few weeks for Swedbank as it fends off several investigations, including for money laundering and insider trading, resulting in the dismissal of its chief executive officer.
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Embattled Wells Fargo CEO steps down
Wells Fargo announced Thursday that Chief Executive Officer and President Timothy Sloan intends to retire, effective June 30. He will step down as CEO, president, and board member effective immediately.
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World Bank Group debars for one year Vietnamese water and sewerage company
The World Bank has imposed a one-year debarment on Vietnamese, state-owned water and sewerage company Vietnam Water and Environment Investment Corporation – JSC.
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Merrill Lynch to pay $8M for improper handling of ADRs
The Securities and Exchange Commission on March 22 announced that Merrill Lynch, Pierce, Fenner & Smith will pay over $8 million to settle charges of improper handling of “pre-released” American Depositary Receipts.
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ArticleBanks, central banks warned of crypto-currency risks and pitfalls
Despite failures, plummeting prices, and a plethora of risks, financial institutions and central banks are cautiously looking at ways to use virtual currencies. International regulators are warning them that doing so haphazardly could be disastrous.
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PwC reduces damages in Colonial Bank failure
Appealing a court ruling, PwC reached a $335 million settlement with the FDIC over professional negligence claims in the failure of Colonial Bank.
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FCA fines UBS £27.6M for transaction reporting failures
The U.K. Financial Conduct Authority has fined UBS £27.6 million (U.S. $36.6 million) for failings relating to 135.8 million transaction reports.
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ArticleBanks move forward with CECL, expecting no relief
Despite calls for delay or reconsideration of the pending new model for recognizing loan losses, entities are implementing as if nothing will change.
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FDIC General Counsel Charles Yi to leave the agency
Federal Deposit Insurance Corporation General Counsel Charles Yi announced he will be leaving the agency at the end of March.
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FSOC seeks changes to nonbank designation guidance
The FSOC has released proposed interpretive guidance regarding nonbank financial firm SIFI designations. It would implement an “activities-based approach” to identifying potential risks to financial stability and provide an “off-ramp” to designated firms.
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ArticleCongress debates easing risk burden for banks as pot businesses grow
Momentum has been on the side of marijuana legalization. Now, there may be progress in allowing banks to legally take part in that expanding retail revolution.
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ArticleBanks less anxious about risk, but should they be?
Wolters Kluwer’s “Regulatory & Risk Management Indicator” says two-thirds of financial institution executives continue to describe high levels of compliance-related regulatory risk, even if their level of anxiety over those risks has decreased.
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PremiumTop ethics and compliance failures of 2018
The biggest ethics and compliance failures of 2018 feature some big names, such as Wells Fargo, Danske Bank, and Tesla, and highlight some key lessons for compliance officers.
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ArticleBanks sound alarm on CECL, calling for delay, study
When the economy starts to sour, CECL will push it faster and further in that direction, say banks calling for a delay and study of the new loan loss rules.
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ArticleMike Lamberth: Shepherding the future of compliance
Mike Lamberth, managing vice president of compliance for Capital One Financial, was on the job as compliance programs first started to become ubiquitous. His vision for the profession: a continuing evolution that combines talents, keeps pace with regulatory change, realizes the positive disruption technology will bring, and does all this ...
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ArticleFouad Khalifeh: The risk manager
Fouad Khalifeh, the group chief compliance officer for Fransabank, has utilized his expertise in risk management to allow his bank to thrive, despite the many geopolitical risk challenges that surround him.