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Latest News
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OPINION: It’s not the system, it’s the people – TD Bank scandal through a different lens
Stop blaming inferior AML software and arrest the individual responsible for the crime, says former federal agent Robert Mazur.
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Fintech oversight: Where should responsibility lie?
Should banks be solely responsible for fintech compliance, or can the regulators also shoulder some of the burden? We discuss some of the arguments around this key question.
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TD Bank pleads guilty to AML failures, receives record-smashing $3bn+ in penalties, growth cap
“By making its services convenient for criminals, TD Bank became one,” said Attorney General Merrick B Garland.
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Fed backs down from aggressive bank capital requirements
Under a revised proposal, large banks would have to increase their capital reserves by 9% instead of by 19%.
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Minimum capital levels set after Fed stress test
Reserve capital requirements increase as banks falter under simulated stressors.
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Federal Reserve governor Bowman highlights bank culture as key influence on business outcomes
The speech also covered monetary policy, bank M&A and liquidity regulation.
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Crypto-friendly bank must enhance investigatory standards in AML/OFAC arenas
The Fed ordered the bank to enhance its AML and OFAC compliance regimes, citing “significant deficiencies.”
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Synapse bankruptcy leads to fintech user woes
Collapse of fintech intermediary raises serious questions about the fintech ecosystem.