Bank of America under probe over U.S. housing program, forex
Bank of America Corp may have a new mortgage problem on its plate, saying on Tuesday that federal investigators are looking into whether the bank violated requirements of a U.S. government housing...
View ArticleEXCLUSIVE: HSBC hires former Homeland Security agent to head U.S. AML effort
HSBC has named a former agent of the Department of Homeland Security and expert on the management of high-risk clients to head its U.S. anti-money laundering operation under a revamped compliance...
View ArticleSEC tweaks its asset-backed securities plan amid privacy concerns
U.S. regulators released a scaled-back proposal on Tuesday that seeks to soothe industry concerns over a plan to force issuers of asset-backed securities to disclose sensitive loan-level data to...
View ArticleEighteen brokerages agree with New York attorney general to stop answering...
Eighteen brokerages, including Goldman Sachs, JPMorgan Chase, and Citigroup C.N, agreed to end their participation in analyst survey programs as a result of the New York Attorney General's...
View ArticleGlobal AML "effectiveness" standard puts new pressure on banks to know their...
Banks around the world may feel increased pressure from national regulators to have strong policies in place to know their customers and to police transactions, as the international body that sets...
View ArticleBeyond Mt. Gox, bitcoin believers keep the faith, see more robust system
The apparent collapse of Tokyo-based bitcoin exchange Mt. Gox isn't bothering Anthony Hope and others who have ditched steady careers in government and finance to build bitcoin companies - and who...
View ArticleMt Gox head says in Japan, seeking solution to bitcoin exchange's woes
The head of Mt. Gox, the bitcoin exchange whose abrupt shutdown has shaken the virtual currency, said on Wednesday that he remains in Japan and is working with others to solve the company's problems....
View ArticleU.S. attorney subpoenaed Mt Gox, other bitcoin businesses, source says
Manhattan U.S. Attorney Preet Bharara has sent subpoenas to Mt. Gox, other bitcoin exchanges, and businesses that deal in bitcoin to seek information on how they handled recent cyber attacks, a source...
View ArticleNY banking regulator raises conflict questions about Ocwen
New York's banking regulator said on Wednesday that executives at Ocwen Financial Corp, a company that collects home loan payments, have ties to related mortgage companies that may give them an...
View ArticleU.S. consumer bureau sues college chain ITT over student loans
The U.S. consumer watchdog said on Wednesday it has sued ITT Educational Services Inc for what the agency says are predatory student lending practices that could lead borrowers to default on their...
View ArticleINTERVIEW: U.S. FTC's top anti-scam cop: Fraud, mobile payments in our sights
American consumers are wide open to some of the most sophisticated scam artists ever as vast troves of their personal information are collected by data brokers and sometimes sold with no questions...
View ArticleTop U.S. prosecutor in benchmark-rigging probes to leave Justice Dept.
Mythili Raman, the top criminal prosecutor at the U.S. Department of Justice, is planning to leave the agency next month, wrapping up a year overseeing high-profile investigations into global market...
View ArticleCFTC offers swaps firms guidance for protecting customer privacy
The U.S. Commodity Futures Trading Commission has issued guidance outlining recommended best practices for complying with rules requiring security safeguards for customer nonpublic personal...
View ArticleU.S. justices say Allen Stanford victims can sue lawyers, brokers
Investors in Allen Stanford's $7 billion Ponzi scheme can sue to recoup losses from lawyers, insurance brokers and others who worked with the convicted swindler, the U.S. Supreme Court ruled on...
View ArticleBanks should focus AML resources on due diligence, risk assessment and...
Despite distractions such as Bitcoin and other virtual currencies, the focus of banks' anti-money laundering compliance efforts should remain squarely on recent areas of regulatory concern such as...
View ArticleCredit Suisse CEO faces call for U.S. testimony apology
A group representing Swiss bank employees demanded an apology from Credit Suisse boss Brady Dougan on Thursday after he said the practice of helping Americans conceal their wealth was the work of a few...
View ArticleSociete Generale to pay $122 million to resolve U.S. mortgage lawsuit
Societe Generale has agreed to pay $122 million to settle a lawsuit by the U.S. regulator for Fannie Mae and Freddie Mac over mortgage-backed securities. The settlement, announced by the Federal...
View ArticleBritish man charged with hacking Federal Reserve computers
A British man has been charged with hacking into computer servers belonging to the U.S. Federal Reserve, and then widely disclosing personal information of people who use them. Thursday's charges...
View ArticleAustralian legal officer urges G20 to avoid over-regulation in fight against...
The Australian government has urged a G20 working group on corruption to avoid resorting to over-regulation as it attempts to tackle bribery and corruption. George Brandis, the attorney general, told...
View ArticleU.S. Fed extends comment period for new commodity rules
The U.S. Federal Reserve gave market parties 30 more days to comment on its plan to submit Wall Street banks to greater restrictions in dealing physical commodities, the central bank said on Thursday....
View Article