- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
On her last day as Federal Reserve Chairman, Janet Yellen escalated the regulatory attack on the embattled Wells Fargo, restricting the growth of the firm until it “sufficiently improves its governance and controls.”
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TD Bank will pay nearly $3.1 billion in penalties to four U.S. regulators to settle charges that it “chose profits over compliance” when it allowed three money laundering networks to filter more than $670 million in dirty money through the company.
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.
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.
