- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
SunTrust Banks and BB&T Corp. recently announced merger plans. The deal is drawing the scrutiny of Congressional Democrats, less for the details of the merger than the regulatory atmosphere that encouraged it and the forthcoming approval process.
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Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
Citigroup will pay $135.6 million in fines levied by two banking regulators for repeated failures to remediate deficiencies in risk management, data governance, and internal controls.
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
