- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2020-11-25T18:18:00
The OCC fined JPMorgan Chase Bank N.A. $250 million for weaknesses in its internal controls and internal audit for its fiduciary activities.
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A subsidiary of JPMorgan Chase is facing a potential civil penalty “related to historical deficiencies in internal controls and internal audit over certain advisory and other activities.”
The OCC’s recent $85 million penalty assessed against USAA for compliance risk management failures leaves too many questions unanswered for a fine that size, writes Jaclyn Jaeger.
Federal banking regulators fined Citigroup $400 million for failing to address “significant” risk and compliance failures.
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
