Risk: Page 4
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Goldman Sachs exits Net-Zero Banking Alliance
The bank said it would remain “focused on the increasingly elevated sustainability standards and reporting requirements imposed by regulators around the world.”
By Zoya Mirza • Dec. 10, 2024 -
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Citi CFO: Evolving data standards make upgrade more complex
Mark Mason, the bank’s finance chief, also said the focus on the need to improve data tied to regulatory reporting isn’t unique to Citi.
By Caitlin Mullen • Dec. 10, 2024 -
Explore the Trendline➔
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TrendlineArtificial intelligence
Banks are enthusiastic about AI’s promises. But can they get customers on board, and will regulators let the innovation happen?
By Banking Dive staff -
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Sponsored by SynovusSeeing is no longer believing: The rise of deepfakes and how to protect your business
Deepfakes are skyrocketing, with a 3000% increase in fraud attempts. Discover how to safeguard your business and customers from these advanced threats.
By Aubrey LaBoda • Dec. 9, 2024 -
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ColumnDive Deposits: Citi begins December with a data dump
The bank’s split of Mexican operations was just the beginning. There were also 344 promotions to managing director, a high-profile exit, an AI rollout and a block-trade stumble.
By Dan Ennis • Dec. 6, 2024 -
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TD shelves growth targets in wake of AML settlement
The embattled Canadian lender is undergoing a strategic review of its priorities and opportunities. “Everything is on the table,” said Raymond Chun, the bank’s current COO who will take the CEO reins in April.
By Caitlin Mullen • Dec. 5, 2024 -
Celsius founder Mashinsky pleads guilty to fraud
His two-count guilty plea could send the 59-year-old to prison for 30 years.
By Gabrielle Saulsbery • Dec. 4, 2024 -
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Thread Bank CEO anticipates more ‘reasonable’ regulatory environment under Trump
The lender – hit with an FDIC consent order this year – has tried to ensure its house “can withstand the storm,” rather than simply “being mad at the weather,” CEO Chris Black said.
By Caitlin Mullen • Dec. 4, 2024 -
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Barclays to pay $19.5M to resolve suit over error in debt sale
Shareholders sued the British bank in 2022, claiming they lost money after the lender sold far more in structured debt products than regulators permitted.
By Caitlin Mullen • Dec. 4, 2024 -
Permission granted by Office of the Comptroller of the Currency
OCC ends Lake Shore’s breach-related consent order
The regulator in March 2023 found the bank in “substantial noncompliance” with an agreement to fix IT and risk governance flaws. Lake Shore’s then-CEO resigned.
By Dan Ennis • Dec. 4, 2024 -
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GAO report flags Fed, FDIC supervisory ‘weaknesses’
The government office offered recommendations meant to improve both bank regulators. The OCC, meanwhile, “generally adheres” to its procedures for escalating supervisory concerns, the GAO said.
By Caitlin Mullen • Dec. 2, 2024 -
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Warren, Dems bash Capital One’s ‘history’ in Fed letter
Lawmakers told regulators to look at the bank’s aggressive debt collection, anti-money laundering woes and an inflated community investment pledge, in considering the acquisition application.
By Patrick Cooley • Nov. 26, 2024 -
Permission granted by TD Bank
TD names its next chief auditor
The bank’s personnel moves are being closely watched as it addresses its anti-money laundering woes.
By Dan Ennis • Nov. 22, 2024 -
Retrieved from OCC.
OCC admonishes Texas’ Clear Fork Bank for not correcting AML problems
The lender’s board was given one week to appoint a compliance committee to oversee the bank’s adherence to the OCC order’s provisions.
By Caitlin Mullen • Nov. 22, 2024 -
Courtesy of Ally Financial
Ally names new risk, audit chiefs
The Detroit-based lender is also bringing on a former USAA and TD executive to head up deposits.
By Caitlin Mullen • Nov. 21, 2024 -
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Fed hits Kansas bank again over AML compliance
Examiners found “new and continuing deficiencies” at Small Business Bank roughly a year after the Federal Reserve issued a previous enforcement action.
By Rajashree Chakravarty • Nov. 20, 2024 -
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How the role of chief risk officer at banks is evolving
Bank failures last year forced CROs to take on higher corporate profiles and sharpen their skill sets.
By Caitlin Mullen • Nov. 19, 2024 -
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JPMorgan unveils green financing ratio following shareholder proposal
The bank said it spent $1.29 on green solutions for every dollar spent on high-carbon activities in the disclosure prompted by a proposal submitted by NYC Comptroller Brad Lander.
By Lamar Johnson • Nov. 18, 2024 -
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Banks’ CEO succession plans lacking: analysis
Over the past decade, half of the CEO transitions that occurred among banks with between $20 billion and $250 billion in assets were abrupt or unplanned, said leadership advisory firm Russell Reynolds.
By Caitlin Mullen • Nov. 18, 2024 -
Anna Hrushka/Banking Dive
‘Dysfunction’ brought down Republic First: FDIC OIG
In a site visit five months before the Philadelphia bank’s collapse, the FDIC neglected to downgrade the bank’s CAMELS rating and replaced a recommended consent order with an informal enforcement action.
By Gabrielle Saulsbery • Nov. 14, 2024 -
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Execs from 6 banks weigh in on impact of Trump’s election
Leaders at Citi, U.S. Bank, Fifth Third and more reflected on what the industry can likely expect — and what they’re hoping for — out of a second Trump presidency.
By Caitlin Mullen • Nov. 11, 2024 -
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Sponsored by ARISFortifying banks for the future: Ensuring operational resilience in an era of disruptions
The future of banking depends on the ability to adapt to a fast-changing risk landscape.
Nov. 4, 2024 -
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AI increases fraud risk, fintechs say
Financial firms monitor for fraud by looking for unusual activity, but an artificial intelligence model can be trained to transact like a real person.
By Patrick Cooley • Oct. 31, 2024 -
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Morgan Stanley adjusts climate targets with Paris goal slipping
The bank’s 2030 targets now include a net-zero scenario that would limit additional temperature rise to 1.7°C, as aspirations for limiting global warming to 1.5°C fade.
By Lamar Johnson • Oct. 30, 2024 -
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BofA discloses Zelle probe, says it may result in litigation
The bank also said it’s in contact with regulators over its Bank Secrecy Act/anti-money laundering and sanctions compliance programs, and a regulatory order could stem from those discussions.
By Caitlin Mullen • Oct. 30, 2024 -
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Dimon swipes at regulators, large retailers: ‘Time to fight back’
The JPMorgan CEO slammed recent rules, including Basel and open banking, saying the industry is right to challenge regulators. “If you’re in a knife fight, you better damn well bring a knife,” he said.
By Caitlin Mullen • Oct. 29, 2024
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