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News & Commentary
Content tagged with Compliance posted in April 2012
Emerging Markets Hold Breath as E.U. Banks Shrink
News  |  4/30/2012
From Beijing to Bucharest, emerging market policymakers are as worried as those in Brussels that the rapid contraction in western European banks' balance sheets will compound the debt crisis and further delay economic recovery.
Big Isn't Bad, U.S. Banks Tell Fed
News  |  4/29/2012
The largest U.S. banks are accusing the Federal Reserve of attempting to misuse its new regulatory powers to shrink financial giants under the misguided belief that "big is bad."
BNY Mellon Names New CIO
News  |  4/27/2012
BNY Mellon names Suresh Kumar CIO, to replace retiring John Fiore.
Protesters Picket Wells Fargo Meeting, 24 Arrested
News  |  4/25/2012
Police in riot gear arrested two dozen people on Tuesday as protesters with a huge inflated rat sought to disrupt a Wells Fargo annual shareholder meeting to express anger over foreclosures, executive compensation and corporate taxes.
Bankers Should Do the Right Thing: Regulator
News  |  4/24/2012
Bankers should "do the right thing" in salaries and service to clients and not be driven purely by the size of their pay packets, top UK regulator Hector Sants said on Tuesday in his last speech before standing down.
Building a 21st Century Agency: An Inside Look at the CFPB's Technology Infrastructure
News  |  4/23/2012
While it has begun outreach initiatives to help it understand the scope of its task, the Consumer Financial Protection Bureau also has had to build its tech infrastructure. CFPB CIO Chris Willey recently spoke with BS&T about the benefits and challenges of being a newly created entity and about how technology advances the agency's mission.
BofA $20 Million Settlement Called Inadequate
News  |  4/23/2012
Bank of America Corp directors, who were sued by shareholders for allegedly paying too much for Merrill Lynch & Co in 2008, must defend a proposed $20 million settlement of the claims in federal court in New York, court papers show.
Infosys Being Investigated by U.S. Homeland Security Dept.
News  |  4/23/2012
Infosys, India's Number two software services exporter, is under scrutiny from the U.S. Department of Homeland Security for likely errors in employer eligibility documents of its staff working in the United States, the company said in a statement.
Bailouts, Bonds and...Disney? Top Banking Quotes of the Week
Slideshows  |  4/20/2012
Executive compensation, bailouts and looming disaster in Europe were among the trending topics in the worldwide baking industry this week. Bank Systems & Technology keeps you in the loop by compiling the top quotes of the week. Enjoy!
Greek Banks to Show Pain of Bond Swap, Bad Loans
News  |  4/20/2012
Greek banks will post big losses for 2011 on Friday, as they will include the writedown on government bonds suffered during last month's bailout deal for the country as well as provisions for higher bad loans due to a deep recession.
E.U. Says No Plans to Activate Funds For Spanish Banks
News  |  4/19/2012
The European Union has no plans to activate its emergency funds to recapitalize Spanish bank and Spain had no need to appeal for funds to do so, the European Commission said on Thursday.
Spain Banks' Bad Loans Highest Since 1994
News  |  4/18/2012
Spanish banks' bad loans rose to their highest level since Oct. 1994 in February, to 8.2 percent of their credit portfolios, Bank of Spain data showed on Wednesday, as the sector continues to battle sliding house prices and a looming recession.
Renewed Euro Zone Worries Prompt Investor Caution: BofA Poll
News  |  4/17/2012
Investors have turned away from riskier assets, favouring U.S. stocks, as concerns about the euro zone debt crisis resurface and expectations for global growth are scaled back, a closely-watched fund managers' survey showed on Tuesday.
Jury Selection Starts in Oracle Vs. Google Trial
News  |  4/16/2012
Jury selection in a high-stakes dispute over smartphone technology kicked off on Monday morning, in which Oracle Corp accuses Google Inc's Android operating system of violating Oracle's patent and copyright for the Java programming language.
Legacy BofA Brokers May be Next Wave to Depart Merrill Lynch
News  |  4/16/2012
Hundreds of legacy Bank of America brokers may form the next wave of departures from Merrill Lynch after many recently pocketed their retention bonuses, recruiters and former brokers say.
Europe's Banks Leave Room for Rivals to Fund World Trade
News  |  4/16/2012
Euro zone banks have pulled back from the $18 trillion business of helping companies trade their goods around the world, opening the door for rivals to grab a slice of the growing market.
Spain Pushes Banks to Pay For Sector Clean-Up
News  |  4/13/2012
Spain needs at least 20 billion euros ($26.35 billion) to secure the sale of three bailed-out banks and wants the rest of its hard-pressed banking sector to provide the cash in order to avoid putting more taxpayer money into the industry.
Big Banks Face $638 Billion Shortfall on New Rules
News  |  4/12/2012
The world's biggest banks would have had to raise more than $600 billion euros to achieve minimum capital ratios if tougher rules that are coming in for the industry had been in force last year.
Bernanke Says Banks Need Bigger Capital Buffer
News  |  4/10/2012
Federal Reserve Chairman Ben Bernanke said on Monday banks need to have more capital at hand in order to ensure the financial system is stable.
Foreign Exchange Fine Print Haunts BNY Mellon, State Street
News  |  4/9/2012
State Street Corp has unveiled a new twist in its legal defense against charges of foreign exchange fraud: We're not like Bank of New York Mellon Corp.
Google Defends Privacy Policy to European Watchdog
News  |  4/6/2012
Web search giant Google Inc defended its new privacy policy as lawful and cited measures to educate users about it, in a letter sent on Thursday to French data protection regulators investigating its approach.
Federal Judge Approves $25 Billion Mortgage Pact
News  |  4/6/2012
A federal judge approved a $25 billion mortgage settlement with five top U.S. banks over allegations of foreclosure abuses and misconduct in servicing home loans, according to court documents.
How Analytics Can Help Banks Make the Transition to Dodd-Frank Compliance
Commentary  |  4/5/2012
Given the breadth and depth of the changes to existing regulations, banks are likely to be challenged by new Dodd-Frank requirements. Here's how analytics can help ensure compliance.
Citigroup Hit by U.S. Regulator on Bank Secrecy
News  |  4/5/2012
Citigroup Inc has agreed to take steps to clean up its compliance with bank secrecy and money laundering laws as part of an agreement with the Office of the Comptroller of the Currency (OCC), the OCC announced on Thursday.
JPMorgan to Pay $20 Million to Settle Lehman Case
News  |  4/4/2012
The Commodity Futures Trading Commission said on Wednesday that JPMorgan Chase will pay $20 million to settle charges that it unlawfully handled customer segregated funds at Lehman Brothers Holdings Inc.

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