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News & Commentary
Content tagged with Compliance posted in December 2012
Major Borrowers to Reduce Bank Deposits: Fed Survey
News  |  12/28/2012
Wall Street dealers expect hedge funds, insurance companies and other borrowers to pull some cash from commercial banks when a financial crisis-era deposit insurance program expires at the end of the year, the Federal Reserve said on Thursday.

Wells Fargo Doesn't Have to Pay Clients $203 Million: Court
News  |  12/27/2012
A U.S. appeals court vacated an injunction and a $203 million restitution order against Wells Fargo & Co in consumer litigation over the bank's overdraft policies, according to a ruling issued on Wednesday.

Regulatory Black Hole Puts Banks Off Deals
News  |  12/21/2012
Regulatory uncertainty is putting large banks off buying the assets of smaller rivals, complicating the sector's restructuring and giving hedge funds and private equity a golden opportunity to swoop in.

ICE CEO Says Proposal to Buy NYSE 'Well Received' by Regulators
News  |  12/20/2012
IntercontinentalExchange Inc's $8.2 billion proposal to acquire NYSE Euronext has been "well received" by regulators, ICE Chief Executive Jeffrey Sprecher said on Thursday.

BofA CEO: Fed Wants Bank to Show Consistent Earnings
News  |  12/19/2012
Bank of America Corp needs to show the U.S. Federal Reserve it can produce consistent earnings as part of the annual process to gain permission to return more capital to shareholders, CEO Brian Moynihan said in an interview.

U.S. Agency Sues JPMorgan Over Mortgage Securities
News  |  12/18/2012
The U.S. credit union regulator sued JPMorgan Securities and Bear Stearns & Co on Monday over $3.6 billion in mortgage securities the bank allegedly sold to credit unions that collapsed because of losses from the securities.

Europe to Miss Basel III Deadline After EU Talks Postponed
News  |  12/18/2012
Europe will definitely fail to meet the globally-agreed January deadline for the implementation of tougher capital requirements for banks after European Union talks to agree the rules were postponed on Tuesday.

Internet Regulation Seen at National Level as Treaty Talks Fail
News  |  12/17/2012
The world's major Internet companies, backed by U.S. policymakers, got much of what they wanted last week when many nations refused to sign a global telecommunications treaty that opponents feared could lead to greater government control over online content and communications.

Europe Agrees To Make ECB Chief Euro Zone Watchdog for Banks
News  |  12/13/2012
Eurozone finance ministers have agreed to make the European Central Bank the top regulatory supervisor for Eurozone banks.
CFPB Examines Consumer Experience with Major Credit Reporting Agencies
News  |  12/13/2012
The regulatory body looked at the three largest nationwide credit reporting companies: Equifax Information Services, LLC; Experian Information Solutions Inc.; and TransUnion LLC.
Barclays Names New Compliance Chief
News  |  12/12/2012
Barclays has appointed Hector Sants, former boss of British regulator the Financial Services Authority, to oversee its compliance and relationship with governments and regulators as it looks to repair its battered reputation.

U.S. Economy Could Be 'Booming' With Fiscal Cliff Deal, Says JPMorgan's Dimon
News  |  12/12/2012
The United States could have a "booming economy" in a couple of months if lawmakers in Washington reached an agreement to deal with the looming spending cuts and tax increases known as the fiscal cliff, JPMorgan Chase & Co CEO Jamie Dimon said.

HSBC to Pay Record $1.9 Billion Fine in Money Laundering Case
News  |  12/11/2012
HSBC has agreed to pay a record $1.92 billion fine to settle a multi-year probe by U.S. prosecutors, who accused Europe's biggest bank of failing to enforce rules designed to prevent the laundering of criminal cash.

Deutsche Bank Directors to Question Board
News  |  12/7/2012
Deutsche Bank's directors will question the management board over claims the lender failed to recognise billions of euros in unrealised losses during the financial crisis, two sources said.

Standard Chartered Fined $330 Million in Iran Probe
News  |  12/6/2012
Standard Chartered expects to pay $330 million to settle a case with U.S. regulators for breaking sanctions on Iran, the Asian-focused bank said on Thursday, a second such penalty which could almost wipe out its profit growth this year.

SEC Charges Wells Fargo Banker, 9 Others With Insider Trading
News  |  12/6/2012
U.S. securities regulators charged a Wells Fargo investment banker and nine others with fraud on Wednesday in connection with their alleged role in an insider-trading ring that earned more than $11 million by trading on tips about impending mergers.

2013 Bank Regulatory Forecast
News  |  12/5/2012
Banks will continue to grapple with a host of regulatory demands, especially as Basel III and Dodd-Frank provisions come into effect.
Franco-German Rift Threatens Plan for Banking Union
News  |  12/4/2012
Germany and France clashed publicly on Tuesday over plans to put the European Central Bank in charge of supervising banks, deepening a dispute over the scope of ECB powers that threatens to derail one of Europe's boldest reforms.

UBS Near $450 Million Settlement With U.S., U.K. Over Libor
News  |  12/3/2012
Swiss bank UBS AG is expected to pay more than $450 million to U.S. and British authorities to settle claims some of its employees submitted false Libor rates, the New York Times reported.

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