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The U.S. central bank has issued an enforcement action against Evolve Bank & Trust for failing to comply with anti-money-laundering, risk management, and consumer compliance programs.
The Federal Reserve and Federal Deposit Insurance Corporation determined that there was a "shortcoming" in the plans submitted in 2023 by JPMorgan Chase , Bank of America , Goldman Sachs , and ...
The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s. It established the Resolution Trust Corporation to close hundreds of insolvent thrifts and provided funds to pay out insurance to their depositors.
In June 2024, the Federal Reserve Board issued an enforcement action against the bank for deficiencies in their anti–money laundering, risk management, and consumer compliance programs. [15] [16] Also, in June 2024, Evolve announced it was the victim of a data breach by the cybercrime group LockBit.
Dodd-Frank required the Federal Reserve to write rules for swipe fees on debit card purchases. [18] Richard Durbin , the senator from Illinois who was the main proponent of those rules, has called the proposed settlement on credit card swipe fees, "gives Visa and MasterCard free rein to carry on their anti-competitive swipe-fee system with no ...
New York Attorney General Letitia James filed a lawsuit against Citibank on Tuesday, alleging the big bank failed to do enough to protect and reimburse victims of fraud.
Federal Reserve Act Financial Institutions Reform, Recovery, and Enforcement Act of 1989 International Banking Act of 1978 Protecting Tenants at Foreclosure Act Revised Statutes of the United States Securities Exchange Act of 1934 Truth in Lending Act: Titles amended: 7 U.S.C.: Agriculture 12 U.S.C.: Banks and Banking 15 U.S.C.: Commerce and Trade
New York state's attorney general's office said on Tuesday said it had sued Citibank for allegedly failing to protect customers from electronic fraud and reimburse victims, which it said had cost ...