- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
The Office of the Comptroller of the Currency has released its latest assessment of the strategic, credit, operational, and compliance risks that are top and evolving concerns for the federal banking system.
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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 Treasury Department’s Office of the Comptroller of the Currency proposed a rule that would extend requirements for recovery plans to all banks with at least $100 billion in assets.
