Fed warned Deutsche Bank over anti-money-laundering backsliding

Fed warned Deutsche Bank over anti-money-laundering backsliding

Check out what’s clicking on FoxBusiness.com. The Federal Reserve told Deutsche Bank AG in recent weeks that the lender is failing to address persistent shortcomings in its anti-money-laundering controls, according to people familiar with the matter. Stocks in this Article The Fed’s frustration has escalated to a point that the bank could be fined, the

Atlanta Fed raises flags about fintech’s impact on financial inclusion

Atlanta Fed raises flags about fintech’s impact on financial inclusion

The Federal Reserve Bank of Atlanta has created a cross-industry group to bridge the gaps created between financial innovations and the underbanked. Called the Special Committee on Payments Inclusion, it will consider the unintended negative impact of smartphone-driven services like digital wallets, mobile payments and P2P apps. The committee will be active for two years.