- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
An internal review conducted by the Office of the Comptroller of the Currency details supervisory shortcomings related to malfeasance at Wells Fargo. Among the problems: all but ignoring more than 700 whistleblowers.
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Despite controversy before and during its annual meeting, shareholders reelected all of Wells Fargo’s directors. But trouble still lies ahead for the post-scandal banking giant.
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.
