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Capital One has received requests for information from federal regulators about its anti-money-laundering program and check casher clients, as authorities lean on banks to do a more thorough job policing their customers and their customers' customers.
February 24 -
BB&T plans to add more than $20 billion in assets this year through three pending acquisitions. Management, which believes it should have no problem getting its deals approved, has started to improve how it monitors its liquidity capital ratio before new thresholds kick in.
January 22 -
BB&T's smaller competitors are convinced the Winston-Salem bank is moving the decision-making on commercial loan applications to its headquarters. They say they've been able to steal customers from BB&T as borrowers are frustrated with the red tape. BB&T's president denies this and says it's as committed to community banking as always.
September 23
BB&T has received subpoenas from the Justice Department tied to a probe of the Winston-Salem, N.C., company's FHA lending.
The subpoenas, sent in November and December, sought additional information on behalf of the Department of Housing and Urban Development's inspector general, which in June sent a letter telling the company it had been selected for an audit of its compliance with FHA rules.
BB&T is in the process of responding to the subpoenas, the $187 billion-asset company said
BB&T last year set aside $85 million after identifying "a potential exposure to losses incurred by the FHA on defaulted loans" that ranges from $25 million to $105 million. The company had reported the $85 million charge and the HUD IG's inquiry in previous filings.
HUD and the Justice Department have not issued any charges, but "similar reviews and related matters with other financial institutions have resulted in cash settlements and other remedial actions," BB&T said in the filing Wednesday.
