Regulation

The avalanche of cases announced Friday included charges against a no-longer registered advisor and firm accused of misappropriating more than $20 million from clients.

The Chicago-based bank, which failed Friday in the first bank failure of 2025, caused a $28.5 million hit to the Deposit Insurance Fund. The FDIC was appointed receiver and Millennium Bank will assume all deposits.

Toronto-Dominion Bank is moving up the start date for its new chief executive officer, Raymond Chun, by two months and has reduced executives' pay.

The investment banking giant has been the subject of regulatory probes regarding the way it vets prospective clients. So far, that's not driving away potential clients, executives say.

The Biden administration is asking the Supreme Court to overturn a lower court injunction against the Corporate Transparency Act, which requires businesses to disclose their beneficial owners. The outcome has significant implications for banks' AML compliance burdens.

The finalized rule adds flexibility to the capital rules applied to the Federal Home Loan banks to help them extend credit to their members.

Since the pandemic, financial scams have surged dramatically. The solutions to rampant fraud are clear; what's missing is the urgency.

Vulnerabilities related to environmental, social and governance issues have become a serious threat vector when it comes to money laundering. Banks must recognize the danger and adapt their systems accordingly.

At TD Bank and some other financial institutions accused of aiding and abetting money laundering, AML and branch employees have colluded and even joked about it in instant messages. Technology is part of the answer to detecting and preventing this.

These banks are expected to draw regulatory scrutiny in the coming year.