- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-10-03T20:11:00
Discover Financial Services disclosed it avoided a monetary penalty in agreeing to a consent order with the Federal Deposit Insurance Corporation (FDIC) over alleged compliance shortcomings at its subsidiary bank.
Discover Bank agreed to improve its consumer compliance management system and enhance corporate governance, enterprise risk management, and board oversight, the company disclosed Friday.
Discover noted potential monetary penalties from the FDIC or other regulators over card product misclassification allegations disclosed in August are still pending.
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The American branch of South Korea-based Shinhan Bank agreed to pay $25 million across settlements with three separate regulators for admitted violations of the Bank Secrecy Act and anti-money laundering requirements.
Discover Financial Services faces a class-action lawsuit from investors alleging materially false and misleading statements regarding its business, operations, and compliance policies.
Discover Financial Services is “paying the price” for underinvesting in compliance over the past several years and has been ramping up spending and hiring to catch up, two senior executives said in a call with analysts.
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
