U.S. Justice Department prosecutors investigating potential lapses in the anti-money laundering controls at Citigroup's Banamex USA have uncovered emailed warnings about AML problems that went...
Morgan Stanley sees digital tools as engines for growth for the firm and expects new cash management and payments tools to help the firm deepen relationships with wealth management customers, Morgan Stanley CFO Jonathan Pruzan said last week at the Morgan Stanley U.S. Financials Conference in New York City.
A history of poor anti-money laundering controls is reportedly causing Citigroup to close its Banamex USA subsidiary, the Wall Street Journal first reported on Sunday. Regulators aren't demanding...
Santander N.A. became the third bank to agree to loosen applicant screening for new account openings, and reports suggest more agreements will likely be forthcoming. The agreements forged with NY Attorney General Eric Schneiderman's office come as the attorney general has been investigating whether overly strict use of applicant screening technology unfairly denies low-income applicants banking services for relatively minor infractions.
A consortium of banks and asset managers are banding together to create a new electronic marketplace for equities trading in Europe. To be called Plato Partnership, the group is designing the platform with the goal of improving market fairness.
Citigroup is closing its LavaFlow alternative trading venue because the firm decided the venue hasn't achieved enough scale to merit continued investment. The move comes just months after LavaFlow was forced to pay $5 million in regulatory fines and as alternative trading systems and dark pools in general are coming under increased scrutiny.
A total of $4.3 billion in fines were levied on six banks by four regulators this week as part of the much anticipated settlement of the FX manipulation scandal. The fines, from the U.K.'s...
The Commodity Futures Trading Commission is expected to announce fines in the alleged rigging of the $5.3 trillion-a-day currency markets any day now, according to published reports. The CFTC may levy fines of around $300 million against each firm it is investigating, according to anonymous sources cited by Bloomberg.
Citigroup is planning to revamp its branch network by transitioning to smaller bank branches that have less than half the square-footage of a current average branch. Meanwhile Royal Bank of Scotland announced a revamp of its own--earmarking 154 branches, or at least 5 percent of its branch network, for closure.
As more information circulates about the hackers that infiltrated JPMorgan, investigators are now saying they also attempted entry to at least a dozen other financial firms.