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American Express fined $350M for gaps in its anti-money-laundering controls
Seeking Alpha ·
Seeking Alpha reports: Federal regulators fined credit card giant American Express $350M for deficiencies in the bank's Bank Secrecy Act and anti-money laundering, or BSA/AML, compliance program, according to a statement on Thursday. The Federal Reserve Board and the Office of the Comptroller of the Currency, or OCC, both issued enforcement actions against the bank. American Express stock dipped 1.7% in after-hours trading. The OCC, as the primary federal regulator for American Express's…
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French bonds are suffering through its worst decade since 1803 - and investors are bracing for more painRead story summary
France's massive budget deficit pushed borrowing costs up to multidecade highs - and it turns out the moves were even more historic than that. The French budget deficit is set to reach 5.4% of gross domestic product this year, significantly higher than any other member of the European Union and above the bloc's 3% limit. The country has not managed to run a ...
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