- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2020-03-10T19:24:00
Fifth Third Bank, National Association could potentially be in as much legal and regulatory trouble as Wells Fargo if allegations of unauthorized account opening brought by the CFPB hold true.
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Fifth Third Bancorp announced the appointment of Jamie Leonard as chief financial officer. The company also named Bob Shaffer as chief risk officer, succeeding Leonard.
A scathing report on Wells Fargo published by the House Financial Services Committee majority tells the story of a recidivist megabank whose senior management and board of directors refuse to take compliance seriously and the unresponsive financial regulators who let it all slide.
Two more settlements reached by Wells Fargo with regulators in the span of a week impart yet more “what not to do” ethics and compliance lessons.
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
