Examiners from the nation's regulator of large banks will have more time to look for anti-money laundering violations now that a new agency has assumed some responsibility for enforcing consumer protection rules.
The nation's top regulator of large financial institutions fined five former officials at a Miami bank Friday in a move some say could be a sign of more aggressive enforcements against individuals.
Poor regulatory oversight noted in a congressional report this week extends beyond safety and soundness issues to lax Bank Secrecy Act enforcement, according to individuals who have worked with the thrift supervisor.
The U.S. Senate passed a massive financial reform package Thursday that will change the federal regulator of some depository institutions and create new whistleblower protections for bank employees.
A federal court fined a north New Jersey bank $5 million Monday for willfully violating the Bank Secrecy Act in an attempt to disguise $35 million in suspicious transactions, including $5 million in structured deposits.
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