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Anthony Gressak III, who also served as interim CEO of Nano Banc, allegedly obtained pandemic relief funds fraudulently.
November 12
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As long as fraud-prevention efforts remain siloed and bank-specific, perpetrators remain free to employ the same strategies over and over. Banks need to do a better job of sharing information and collaborating.
November 12
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Daria Sewell pleaded not guilty to possessing customers' personally identifiable information. The case adds to the Canadian bank's anti-money-laundering woes.
November 8
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The plea agreement, which includes a fine of more than $1.4 billion, penalizes TD for systemic money laundering violations. "We have the ability to profit, and we should be able to profit, but not at the expense of the law," said U.S. District Judge Esther Salas.
November 7
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Los Angeles-based Dave got sued Tuesday by the Federal Trade Commission. Its stock price briefly plunged before soaring in the wake of Donald Trump's election.
November 6
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An uptick in fines associated with anti-money-laundering failures demonstrates that U.S. banks still have much work to do in terms of optimizing their internal systems to identify and stop the flow of dirty money.
November 6
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The agency said VyStar customers took on fees and credit report demerits because they could not access banking functions for months following an attempted upgrade.
November 1
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This month's roundup includes items on TD Bank Group's asset cap and $3 billion in money-laundering fines, the Consumer Financial Protection Bureau's final rule on open banking and more.
October 31
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Sen. Elizabeth Warren said in a letter that the Department of Justice intentionally avoided threatening TD Bank's charter to operate. The Massachusetts Democrat also pressed the agency to prosecute bank executives.
October 31
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A Supreme Court ruling from earlier this year regarding national bank preemption is already playing a prominent role in the banking sector's challenge to a state law on charge card fees.
October 30
