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Weekly Roundup: U.S. to Penalize JPMorgan for Madoff Accounts, FDIC Orders Two Banks to Fix AML Controls, and More
printThe U.S. Justice Department will enter into a settlement agreement with JPMorgan Chase to resolve allegations that the bank violated criminal anti-money laundering (AML) laws by willfully ignoring Bernard Madoff's Ponzi scheme, The New York Times reported, citing anonymous sources. Officials have met with bank representatives to discuss a possible deferred prosecution agreement, although prosecutors may instead demand a guilty plea from the bank. More The Obama administration is urging members of the Senate Banking Committee to delay consideration of an Iran sanctions bill, Reuters said Thursday. The expected delay would give U.S. officials more time to negotiate a potential...
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