OCC | Certain Risk

A smiling Scott Bessent sitting between a frowning Marco Rubio and Pete Hegseth.

Treasury Seeks ‘Gatekeeper’ Role in AML Penalties

The Trump administration is moving to give the U.S. Treasury Department’s financial intelligence unit a decisive say over how banks are punished for anti–money-laundering (AML) failures, according to new reporting by The Wall Street Journal.

“Comptroller of the Currency wall logo Washington DC 2025-02-10 13-19-10” by G. Edward Johnson, licensed under CC BY 4.0, via Wikimedia Commons. Changes were made.

OCC Says Nine Banks Improperly Imposed Risk Controls on ‘Controversial’ Clients

Nine of the largest U.S. lenders made “inappropriate distinctions” among customers in politically sensitive sectors, including by applying enhanced risk controls in response to negative media reports, the Office of the Comptroller of the Currency (OCC) said.

Wells Fargo flag beneath the American Flag, waving. — Photo: “Wells Fargo Bank Flag (38792855875)” by Tony Webster, via Wikimedia Commons, licensed under Creative Commons Attribution–ShareAlike 2.0 (CC BY-SA 2.0). Source: Wikimedia Commons

OCC Ends Final Wells Fargo Fake-Accounts Case Without a Fine

The U.S. Office of the Comptroller of the Currency (OCC) has settled its last remaining enforcement action tied to Wells Fargo’s 2016 fake-accounts scandal without imposing a fine, Banking Dive reported.

Monzo Mulls Fresh U.S. Banking License Bid Amid Deregulatory Shift

UK digital bank Monzo is weighing a fresh attempt to secure a US banking license, four years after abandoning its previous bid when talks with regulators stalled, according to the Financial Times.