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The 2012 order, which came alongside fines to U.S. authorities totaling nearly $2 billion, had sullied the London-based bank's reputation. "Over the last decade HSBC's employees have worked hard to transform the bank's financial crime risk management capabilities," HSBC says.
September 1 -
Banks have long lamented the lack of transparency surrounding the government's use of suspicious activity reports, which are submitted to Fincen and passed along to the department.
August 25 -
A recent mini-tender offer to shareholders in Truist Financial serves as a cautionary tale. "They're trolling around for investors that aren't paying attention," one lawyer said.
August 22 -
In a joint letter to the Consumer Financial Protection Bureau, three industry groups challenged the legal basis for a recent information request and accused the agency of unfairly disparaging the quality of customer service that banks provide.
August 22 -
On a combined basis, the GSEs performed better under this year's scenario than they did in 2021, but the Federal Housing Finance Agency said changes were still needed.
August 11 - AB - Policy & Regulation
Trade groups submitted a wide range of complaints to regulators throughout the Community Reinvestment Act's comment period, including concerns about the revamp's timeline and how the proposal would evaluate online banking activity.
August 8 -
The Biden administration is poised to put its stamp on the banking regulatory landscape, but there are few slam-dunk solutions that will satisfy both the industry and a vocal Democratic base.
August 2 -
Robinhood Markets' cryptocurrency arm was fined $30 million by New York's financial regulator after the brokerage was accused of violating anti-money-laundering and cybersecurity rules.
August 2 -
The National Credit Union Administration voted to raise the asset threshold for credit unions falling under its Office of National Examinations and Supervision to $15 billion, making sure that office remains focused on only the biggest institutions.
July 25 -
GOP lawmakers on Thursday accused SEC Chair Gary Gensler of disregarding their recent request for more information about proposed climate risk disclosure rules. The episode offers a preview of the aggressive oversight Biden administration regulators are likely to face next year should Republicans take control of the House or Senate.
July 21