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Midweek Roundup: NY Regulator to Conduct Surprise Compliance Audits, Capital One Discloses AML Investigation, and More
printThe New York State Department of Financial Services may soon require senior bank executives to personally certify that their financial institution's anti-money laundering (AML) compliance systems are adequate, agency head Benjamin Lawsky said Wednesday. The regulator may also conduct random audits of AML programs, he said. More Capital One Financial Corp. disclosed in a regulatory filing Tuesday that it had received requests for information from federal prosecutors and the Financial Crimes Enforcement Network as part of a money laundering investigation involving its subprime auto-lending activities and check-casher accounts, according to Bloomberg. More U.S. officials on Tuesday introduced a draft resolution...
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