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Compliance/Regulatory Risk
Officials have dumped an enormous amount of money into the economy in a matter of weeks. That means the environment is ripe for fraud.
Once again, lenders across the US have been inundated with applications and are struggling to keep up with demand
Data indicates that banks have earned more than $20 billion in fees from processing PPP loans so far
The Financial Crimes Enforcement Network (FinCEN) has imposed a $450,000 civil money penalty on a former compliance / chief operational risk officer
Authorities have inquired about Wells Fargo’s handling of PPP loans, according to a regulatory filing
The Fed is boosting several pandemic aid programs, including the PPP, as data shows more than half of its first expansion has been used up
Some states are phasing out stay-at-home orders and allowing businesses to reopen after nearly two months of lockdown
Bank Hapoalim and its Switzerland-based subsidiary have admitted money-laundering charges involving soccer officials
Bank of America was sued by plaintiffs alleging that the bank violated the CARES Act by prioritizing borrowers with existing lending relationships and did not allow applicants without such relationships…
Amid the tumultuous economic conditions sparked by the coronavirus pandemic, we face looming expectation of a recession or economic downturn
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