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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-08-21T18:20:00
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 recent call with analysts.
In a business update call Thursday, Discover Chief Financial Officer John Greene said the company had “historically underinvested” in compliance and that the company was “paying the price right now.”
“We’re going to make sure we don’t underinvest going forward,” he said, adding the company is “ensuring that we don’t put profits before compliance excellence.”
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2023-10-03T20:11:00Z By Jeff Dale
Discover Financial Services disclosed it avoided a monetary penalty in agreeing to a consent order with the Federal Deposit Insurance Corporation over alleged compliance shortcomings at its subsidiary bank.
2023-09-05T19:37:00Z By Jeff Dale
Discover Financial Services faces a class-action lawsuit from investors alleging materially false and misleading statements regarding its business, operations, and compliance policies.
2023-08-25T16:19:00Z By Aaron Nicodemus
The Securities and Exchange Commission fined Wells Fargo $35 million for overcharging nearly 11,000 investment advisory accounts over two decades.
2024-06-28T19:30:00Z By Jeff Dale
A Bank of England report warned of private equity risk management deficiencies as interest rates remain stagnant, with international coordination important.
2024-06-20T15:40:00Z By Aaron Nicodemus
Compliance departments at financial institutions must become more involved in ensuring their firm’s operational resiliency to address emerging risks, the Treasury Department’s Office of the Comptroller of the Currency said in its semi-annual risk perspective.
2024-06-07T22:34:00Z By Adrianne Appel
Compliance has been “sleeping on” artificial intelligence, two panelists discussed at Compliance Week’s Women in Compliance Summit. The profession should be positioned to lead on AI governance at the business level.
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