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Midweek Roundup: Fed Pauses Exams amid COVID-19 Pandemic, Audit Details Swedbank AML Breaches, and More

The U.S. Federal Reserve will suspend all routine examinations of financial institutions with less than $100 billion in assets for at least one month and curtail onsite audits of large lenders in response to the outbreak of the new coronavirus disease. More Staff at Swedbank Estonia's nonresident unit kept information on the beneficial owners of certain legal-entity clients hidden from compliance teams for several years, according to the results of an internal audit cited by ACAMS moneylaundering.com. More Swedbank's new chief executive said the lender would cancel severance pay to former chief executive Birgitte Bonnesen for making misleading public statements...

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