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FinCEN Hits Capital One For $390 Million; Says Bank Violated Bank Secrecy Act

PYMNTS

15) announced that it is assessing a $390 million penalty against Capital One for engaging in what it says are “both willful and negligent violations” of the Bank Secrecy Act (BSA). According to a statement from FinCEN , Capital One admitted to failing to implement and maintain an effective anti-money laundering (AML) program.

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Ant Group Debuts Virtual Bank In Hong Kong Weeks After Filing IPO

PYMNTS

Ant Bank, the virtual banking division of Hangzhou, China-based Ant Group , has launched banking services in Hong Kong, Fintech News reported. The launch comes a few weeks after Ant Group filed its initial public offering (IPO), which could be the biggest listing in the country’s history. China International Capital Corp.

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How Safe Are You? 5 Lessons from The Safest Banks

South State Correspondent

Lesson 1: Generate Operating Leverage to Produce Capital If there is a single lesson in banking that decides success in all areas of performance, it is this sell more profitable products to more profitable customers to the point where your bank generates a consistent risk-adjusted return above its cost of capital.

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PayPal joins group investing $15M in Brazilian startup

Payments Dive

The digital payments pioneer expects the fintech to capitalize on the rise of buy now, pay later services in the country.

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Managing the Risk Surface of a Loan Given Tariffs

South State Correspondent

But if interest rates rise quickly, or if the propertys value declines (raising credit risk), or if the market for selling such loans dries up (increasing liquidity risk), the risk surface becomes steeper signaling a more vulnerable position to a banks capital. This group ensures that managements risk targets are met.

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How to Access Our Free Health Prediction for Your Bank

South State Correspondent

Each bank has an overall letter grade (below), plus a grade for the individual categories of capital formation/stability, efficiency and profitability. You can search your bank or create any peer group you want based on asset size or performance. We have also created projections for the next 18 months.

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Simon Property Group, Wheels Up Get In On The SPAC Action

PYMNTS

Add Simon Property Group to the list – the real estate investment trust formed a blank check firm known as Simon Property Group Acquisition in an IPO slated to raise up to $300 million. capital markets work hold a significant advantage.” Funds that have expertise in both companies operating in Asia and how U.S.

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