Lenders

A Mexican national pleaded guilty to participating in a two-year, multimillion-dollar black-market peso exchange conspiracy that laundered drug trafficking proceeds through Texas to Mexico, the U.S. Justice Department said on Wednesday. 

The U.S. Treasury Department on Wednesday proposed new anti-money-laundering and sanctions-compliance rules for permitted payment stablecoin issuers, marking a major step in implementing the 2025 GENIUS Act and expanding federal oversight of the sector.

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Tuesday proposed a broad rewrite of anti-money-laundering and counterterrorism-financing rules that would shift the focus of compliance from technical box-checking to whether a financial institution’s controls are actually effective. 

China has helped Iran blunt the impact of U.S. sanctions over the past five years by buying the bulk of its oil exports and supporting a complex financial and shipping network that has allowed Tehran to keep earning billions of dollars in revenue.

Jeffrey Epstein received $25 million in late 2015 for consulting work tied to a U.S. Justice Department tax-evasion settlement with Swiss private bank Edmond de Rothschild Group.

UBS Group AG failed to convince a U.S. judge to clarify a 1999 settlement over Holocaust-era claims against Swiss banks, a setback for the lender as it seeks to head off potential new financial claims tied to Nazi victims’ assets.

Trump’s crackdown on “debanking” is colliding with a core compliance problem for U.S. banks: the very policies his administration wants to curb have long given lenders a way to cut off customers they suspect of wrongdoing without violating federal secrecy rules.

Brazil’s biggest-ever bank fraud case has left the country’s banking system facing a 52 billion-real ($9.9 billion) bill after Banco Master used funds, asset sales, and other maneuvers to hide major balance-sheet problems from investors and regulators.

Ten years after the Panama Papers exposed the offshore financial system exploited by tax cheats and criminals around the world, prosecutions and transparency reforms tied to the landmark investigation are still unfolding.

A U.S. judge on Thursday granted preliminary approval to Bank of America’s $72.5 million settlement with women who accused the bank of facilitating Jeffrey Epstein’s sexual abuse.