Reputational Risk | Certain Risk

NEW YORK - FEB 27: Pedestrians walk past a Bank of America sign in Times Square on February 27, 2009 in New York City. The bank is rumored to be next in line for government infusion of equity.

BofA Gets Preliminary Yes for Epstein Deal as Lithuania Expands Probe

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.

Federal Trade Commision sign and building, Washington, DC — FTC Building curve Washington DC 2025-02-07 13-33-01 1 by G. Edward Johnson (Wikimedia Commons), licensed under CC BY 4.0. Modified from the original.

FTC Tells Payment Processors that ‘Debanking’ Could Lead to Penalties

The Federal Trade Commission has warned four of the largest payment processors against denying customers access to financial services because of their political or religious views.

A photo of Jeffrey Epstein wearing sunglasses on a boat, from the DOJ's Epstein Files.

Bank of America Aims to Settle Lawsuit Brought by Epstein Victims

Bank of America has agreed in principle to settle a proposed class action lawsuit brought by Jeffrey Epstein’s victims ,who accused the lender of aiding the late financier’s sex-trafficking operation.

Pyongyang, Democratic People's Republic of Korea - December 25, 2018: A busy street in Pyongyang with a tram, cyclists and pedestrians, and views across the city to the unfinished Ryugyong Hotel.

North Korea’s AI-Enabled Fake-Worker Scams Are Expanding Into Europe

North Korean IT operatives are increasingly using artificial intelligence tools to pose as remote workers, win jobs, and draw salaries from European companies, the Financial Times reported, citing cyber security experts who said the threat is spreading beyond the United States.

A cropped photograph from the U.S. Justice Department's Epstein Files showing a letter from Bank of America addressed to Leon Black, with some redactions on the page. — Source: U.S. Justice Department

Leon Black to Be Deposed in Case Alleging BofA Ignored Epstein Red Flags

Leon Black, the billionaire financier and former chief executive of Apollo Global Management, has been ordered to sit for a deposition in a lawsuit accusing Bank of America of facilitating and profiting from Jeffrey Epstein’s sex-trafficking operation.

Bars of Heraeus gold seen stacked atop one another. — “Heraeus Gold” by Alchemist-hp, Wikimedia Commons, licensed under Creative Commons Attribution-ShareAlike 4.0 (CC BY-SA 4.0). https://creativecommons.org/licenses/by-sa/4.0/

The Caribbean Supply Chain that Laundered Conflict-Tainted Venezuelan Gold

More than 70 metric tons of Venezuelan gold worth over $2.2 billion were routed through Curaçao and refined in Switzerland between 2012 and 2018, despite evidence the metal originated in conflict-affected mining areas in Venezuela.

On April 17, 2024, Governor Bowman participated in a discussion at the Institute for International Finance (IIF) Global Outlook Forum. — Vice Chair for Supervision Michelle W. Bowman

Fed Plan Would Codify Removal of ‘Reputation Risk’ from Exams

The Federal Reserve on Monday proposed a new rule that would prohibit its examiners penalizing institutions over the “reputation risk” they face from customers—a policy shift that aligns with ongoing litigation brought by President Donald Trump against JPMorgan Chase.

BNP Paribas bank branch — “Paris-BNP Paribas1625.JPG” by Reinhardhauke, via Wikimedia Commons. Licensed under CC BY-SA 3.0. Edited. Source: https://commons.wikimedia.org/wiki/File:Paris-BNP_Paribas1625.JPG License: https://creativecommons.org/licenses/by-sa/3.0/

DOJ Files Offer New Details on Epstein’s Relationship with BNP Paribas

Jeffrey Epstein held a retail current account and a savings account at BNP Paribas from 2008 until mid-2018, according to documents released by the U.S. Justice Department and reported by Le Monde.

A postcard showing a Flock of coral flamingos at Hialeah Park, Miami, Florida — “Flock of coral flamingos at Hialeah Park, Miami, Florida” — Boston Public Library, licensed under CC BY 2.0 (https://creativecommons.org/licenses/by/2.0/). Source: https://www.flickr.com/photos/boston_public_library/8006278672 (edited/modified).

Florida Officials Put Sanctions Pressure on Businesses with Cuban Ties

South Florida Republican officials are pressing for tougher scrutiny of businesses that send goods or provide services linked to Cuba, the Miami Herald reported.

A photo of Goldman Sachs headquarters in Jersey City, NJ.

Goldman Ditches DEI for Board Members

Goldman Sachs is preparing to remove race, gender identity, sexual orientation and other diversity factors from the criteria its governance committee uses to identify potential candidates for its board.