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Compliance

Officials have dumped an enormous amount of money into the economy in a matter of weeks. That means the environment is ripe for fraud.
Data indicates that banks have earned more than $20 billion in fees from processing PPP loans so far
The Financial Crimes Enforcement Network (FinCEN) has imposed a $450,000 civil money penalty on a former compliance / chief operational risk officer
Authorities have inquired about Wells Fargo’s handling of PPP loans, according to a regulatory filing
Bank Hapoalim and its Switzerland-based subsidiary have admitted money-laundering charges involving soccer officials
Bank of America was sued by plaintiffs alleging that the bank violated the CARES Act by prioritizing borrowers with existing lending relationships and did not allow applicants without such relationships to apply
Lawsuit alleges unfair business practices by prioritizing borrowers who were seeking larger loan amounts rather than a good faith effort to take business on a first come first serve basis
$248 billion has already been loaned to small businesses across the US, according to new data
Complex regulations and required manpower are pushing costs higher, but fraud attempts are rising
The government’s $349 billion small business support package is facing issues already, according to reports

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Banking Exchange Interview with
Rachel Lewis of Stock Yards Bank

As part of the Banking Exchange Interview Series we and SkyStem are proud to present our interview with Rachel Lewis, Assistant Controller at Stock Yards Bank & Trust.

In this interview, Banking Exchange's Publisher Erik Vander Kolk, speaks with Rachel Lewis at length. We get a brief overview of her professional journey in the banking industry and get insights into what role technology plays in helping her do her work.

VIEW INTERVIEW NOW!

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