Links in “Banks”

Citigroup discloses it has received a subpoena from federal prosecutors and the FDIC related to anti-money-laundering compliance involving a banking affiliate. This account looks back at some of the history of Citi's problems stemming in part from improvements gone awry. [3/4]

Regulations are pressing banks to exit from servicing, creating significant capital advantages for nonbank servicers and raising concerns that regulators have gone too far. [3/4]

Number 1 on ICBA's list is "relief from crushing regulatory reform." [3/4]

Researchers find more than 100 different malware instances that specialize in stealing digital currency. [3/3]

"The Regulatory Pressure Cooker" survey finds that 70% of bank respondents plan to increase their compliance budgets over the next two years by an average of 16%. [3/3]

Those opposed to reforming the CFPB say the effort seeks to undermine "this successful new consumer watchdog." [3/3]

PNC Financial Services Group says the subpoena regards the return rate for its payment-processor clients to determine whether PNC may have facilitated fraud committed by third-parties against consumers. [3/3]

Millennium Bank in Virginia and Vantage Point in Pennsylvania failed Friday, the first time in 2014 two banks failed on the same day, bringing the total number of bank failures in 2014 to 5. [3/3]

CFPB director's Field hearing presentation says implementing such programs is the "smart thing for employers and their business." [2/28]

George Mason University study shows that compliance costs have increased for more than 90% of community bank respondents, leading them to reconsider their product and service offerings. [2/28]