In all of the Department of Justice’s corporate resolutions regarding AML compliance violations—including guilty pleas, deferred prosecution agreements or non-prosecution agreements—it will now consider requiring both chief executive officers and chief compliance officers to certify that a company has remedied the situation, Assistant Attorney General Kenneth Polite announced today.
The American Bankers Association told the Department of Justice today that the 1995 bank merger competitive review guidelines are outdated and do not take into account the competitive effects of online banking and competition from nonbanks.
Though this risk is lurking in the shadows, it can present significant financial exposure for the buyer.
A federal district court on Tuesday upheld the OCC’s and FDIC’s “valid-when-made” rules in separate rulings. The agencies’ rules had affirmed that permissible interest on a loan made by a national or state-chartered bank or federal thrift remains valid when the loan is transferred or sold.
The American Bankers Association and eight other industry trade groups urged the Federal Communications Commission to require telephone companies that block calls to transition to using Session Initiation Protocol Codes 607 and 608 to provide immediate notification to the bank or other caller when it blocks the call.
The American Bankers Association this week joined a group of other trade associations and companies in a letter to the American Law Institute Council opposing a proposed restatement of the law for consumer contracts.
5… 4… 3… 2… 1… The banking industry is in the final New Year’s Eve countdown to the cessation of two U.S. dollar Libor tenors, with the remainder set to cease in 2023.
A federal court in Georgia today enjoined the federal government nationwide from enforcing its vaccine mandate for federal contractors working on federal contracts.
A federal court enjoined the federal government from enforcing its vaccine mandate for federal contractors working on federal contracts in Kentucky, Ohio and Tennessee. Banks that conduct business with the federal government or that have branches on military bases or other federal property may be subject to the vaccine mandate.
The Fifth Circuit Court of Appeals’ stay of the Occupational Safety and Health Administration’s vaccine mandate is expected to remain in place until at least Dec. 10, based on a court order filed right before Thanksgiving.