Latest news with #BankSecrecyAct
Miami Herald
3 days ago
- Business
- Miami Herald
TD Bank to Close 38 Locations by June 5: See the Full List
TD Bank plans to close 38 of its branches across 10 states and Washington, D.C., by June 5, as part of a broader corporate strategy to reduce physical locations amid growing digital banking trends. The closures come at a time when many banks across the country are downsizing brick-and-mortar operations due to their shifting consumer habits. Financial institutions, including JPMorgan Chase, Bank of America, and Wells Fargo, have each scaled back their branch networks in recent months. The pace of branch closures has doubled since 2020, according to Kiplinger, driven by increasing reliance on mobile apps and online platforms for daily transactions. TD Bank has emphasized that the closures are a routine part of its store evaluations, which a spokesperson told USA Today earlier this month "may result in some closures, consolidations, or relocations." However, the closures also follow the company's recent legal troubles. In 2024, the bank pleaded guilty to federal money laundering violations and agreed to pay over $3 billion in penalties, the largest such fine ever imposed under the Bank Secrecy Act. Connecticut (2) 1289 Foxon Rd., North Branford215 High St., Torrington District of Columbia (1) 1611 Wisconsin Ave. N.W., Washington, D.C. Florida (3) 1590 S. Nova Rd., Daytona Beach160 N.W. Main Blvd., Lake City500 Collins Ave., Miami Beach Maine (4) 112 Main St., Fairfield62 W. Main St., Fort Kent95 Main St., Gorham6 North St. (PO Box 713), Houlton Massachusetts (6) 860 S. Main St., Bradford465 N. Main St., East Longmeadow420 Franklin St., Framingham50 Holyoke St., Holyoke547 Broadway, Methuen2345 Main St., Tewksbury New Hampshire (4) 10 N. Main St., Bristol884 Main St., Contoocook40 High St., Hampton905 Elm St., Wilton New Jersey (6) 85 Pompton Ave., Cedar Grove1 Royal Rd., Flemington670 Laurel Ave., Holmdel191 E. Rte. 70, Marlton145 Skyline Dr., Ringwood555 Warren Ave., Spring Lake Heights New York (5) 460 Pulaski Rd., Greenlawn156 Dolson Ave. A-B, Middletown125 Park Ave., New York (Manhattan)451 Lexington Ave., New York (Manhattan)136 Margaret St., Plattsburgh Pennsylvania (3) 101 Lancaster Ave., Frazer346 W. Trenton Ave., Morrisville8600 Germantown Pike, Philadelphia South Carolina (2) 1501 Main St., Columbia6 Elmshorn Dr., Greer Virginia (2) 6200 Multiplex Dr., Centreville1750 N. Hampton Ave., Reston TD Bank has stated the closures are part of its regular review process aimed at aligning services with customer behavior. A representative told Fast Company, "As part of our ongoing strategic and business-as-usual reviews of TD's retail locations, we evaluate things like store traffic, customer needs, product use, and community landscape to determine any needed changes to our physical network." The spokesperson added, "We are committed to making this transition as smooth as possible for our impacted customers and colleagues and look forward to continuing to provide legendary service via one of our approximately 1,100 stores or any channel our customers choose." Meanwhile, although it is unclear how connected TD Bank's compliance issues are to the branch closures, the Department of Justice reported that the bank failed to monitor over $18 trillion in payments and allowed more than $600 million in illicit transactions. "TD Bank chose profits over compliance in order to keep its costs down," then-Attorney General Merrick Garland said during a press conference last year. New CEO Ray Chun has pledged organizational changes and reforms aimed at improving compliance. "Make no mistake, we will meet our commitments to our will get the job done," Chun said during a company call in October 2024. TD Bank is one of many financial institutions scaling back in-person services. Since the pandemic, foot traffic to physical branches has declined rapidly. The number of bank branches nationwide has decreased by 5.6 percent since 2020, according to Kiplinger, as the rise of mobile banking services has transformed how customers manage their finances. Related Articles These Are the World's Greenest Financial InstitutionsThree Ways China Is Fighting Trump's Tariff WarIs the Stock Market Open on Good Friday 2025? What We KnowDonald Trump Set to Change Bank Overdraft Fees: What to Know 2025 NEWSWEEK DIGITAL LLC.
Newsweek
3 days ago
- Business
- Newsweek
TD Bank to Close 38 Locations by June 5: See the Full List
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. TD Bank plans to close 38 of its branches across 10 states and Washington, D.C., by June 5, as part of a broader corporate strategy to reduce physical locations amid growing digital banking trends. The closures come at a time when many banks across the country are downsizing brick-and-mortar operations due to their shifting consumer habits. Financial institutions, including JPMorgan Chase, Bank of America, and Wells Fargo, have each scaled back their branch networks in recent months. The pace of branch closures has doubled since 2020, according to Kiplinger, driven by increasing reliance on mobile apps and online platforms for daily transactions. TD Bank has emphasized that the closures are a routine part of its store evaluations, which a spokesperson told USA Today earlier this month "may result in some closures, consolidations, or relocations." However, the closures also follow the company's recent legal troubles. In 2024, the bank pleaded guilty to federal money laundering violations and agreed to pay over $3 billion in penalties, the largest such fine ever imposed under the Bank Secrecy Act. List of TD Bank Locations Closing by June 5 File photo of a TD Bank branch in New York. File photo of a TD Bank branch in New York. AP Photo/NewsBase Connecticut (2) 1289 Foxon Rd., North Branford 215 High St., Torrington District of Columbia (1) 1611 Wisconsin Ave. N.W., Washington, D.C. Florida (3) 1590 S. Nova Rd., Daytona Beach 160 N.W. Main Blvd., Lake City 500 Collins Ave., Miami Beach Maine (4) 112 Main St., Fairfield 62 W. Main St., Fort Kent 95 Main St., Gorham 6 North St. (PO Box 713), Houlton Massachusetts (6) 860 S. Main St., Bradford 465 N. Main St., East Longmeadow 420 Franklin St., Framingham 50 Holyoke St., Holyoke 547 Broadway, Methuen 2345 Main St., Tewksbury New Hampshire (4) 10 N. Main St., Bristol 884 Main St., Contoocook 40 High St., Hampton 905 Elm St., Wilton New Jersey (6) 85 Pompton Ave., Cedar Grove 1 Royal Rd., Flemington 670 Laurel Ave., Holmdel 191 E. Rte. 70, Marlton 145 Skyline Dr., Ringwood 555 Warren Ave., Spring Lake Heights New York (5) 460 Pulaski Rd., Greenlawn 156 Dolson Ave. A-B, Middletown 125 Park Ave., New York (Manhattan) 451 Lexington Ave., New York (Manhattan) 136 Margaret St., Plattsburgh Pennsylvania (3) 101 Lancaster Ave., Frazer 346 W. Trenton Ave., Morrisville 8600 Germantown Pike, Philadelphia South Carolina (2) 1501 Main St., Columbia 6 Elmshorn Dr., Greer Virginia (2) 6200 Multiplex Dr., Centreville 1750 N. Hampton Ave., Reston Why Are TD Bank Locations Closing? TD Bank has stated the closures are part of its regular review process aimed at aligning services with customer behavior. A representative told Fast Company, "As part of our ongoing strategic and business-as-usual reviews of TD's retail locations, we evaluate things like store traffic, customer needs, product use, and community landscape to determine any needed changes to our physical network." The spokesperson added, "We are committed to making this transition as smooth as possible for our impacted customers and colleagues and look forward to continuing to provide legendary service via one of our approximately 1,100 stores or any channel our customers choose." Meanwhile, although it is unclear how connected TD Bank's compliance issues are to the branch closures, the Department of Justice reported that the bank failed to monitor over $18 trillion in payments and allowed more than $600 million in illicit transactions. "TD Bank chose profits over compliance in order to keep its costs down," then-Attorney General Merrick Garland said during a press conference last year. New CEO Ray Chun has pledged organizational changes and reforms aimed at improving compliance. "Make no mistake, we will meet our commitments to our will get the job done," Chun said during a company call in October 2024. Why It Matters TD Bank is one of many financial institutions scaling back in-person services. Since the pandemic, foot traffic to physical branches has declined rapidly. The number of bank branches nationwide has decreased by 5.6 percent since 2020, according to Kiplinger, as the rise of mobile banking services has transformed how customers manage their finances.
Yahoo
7 days ago
- Business
- Yahoo
SEC drops Binance lawsuit
This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter. The Securities and Exchange Commission dropped its 2023 lawsuit against Binance, its U.S. affiliate and its founder Changpeng Zhao Thursday, continuing its trend of vacating lawsuits against cryptocurrency firms filed by the SEC of yesteryear. This brings to an end a nearly two-year legal battle, in which the SEC accused the crypto exchange of illegally serving high-value U.S. customers and commingling and diverting customer funds. Under the leadership of then-Chair Gary Gensler, the SEC filed numerous lawsuits against crypto firms such as Binance, accusing them of, among other things, offering unregistered securities. But the SEC of today, led by Chair Paul Atkins, has done an about-face, dropping cases against Coinbase, Kraken, Ripple and Robinhood, and hosting industry roundtables with its new crypto task force. 'The dismissal of the SEC's case against Binance is a landmark moment. We're deeply grateful to Chairman Paul Atkins and the Trump administration for recognizing that innovation can't thrive under regulation by enforcement. The U.S. is back - leading from the front in the future of blockchain,' a Binance spokesperson told Banking Dive via email. A spokesperson for the exchange's U.S. affiliate, said the dismissal 'confirm[s] what we have always known—that the company did not violate U.S. securities laws.' The dismissal, a major milestone, allows to 'work on restoring our relationships that were impacted by the SEC,' the spokesperson said. The SEC had no further comment beyond its litigation release. Prior to the SEC lawsuit, Binance and Zhao were sued by the Commodity Futures Trading Commission over compliance 'evasion,' and in late 2023 the Justice Department charged Zhao with violating the Bank Secrecy Act. He pleaded guilty to the charge, paid a $50 million fine and was sentenced to four months in federal prison in 2024. The abandonment of the SEC's lawsuit against Binance comes one week after the international crypto exchange, the world's largest by trading volume, announced it would list World Liberty Financial USD on May 22. WLF is owned by the family of President Donald Trump, and was created two months before Trump won the presidential election. Trump, a former crypto skeptic, is involved in the crypto sector through WLF and the more recent launch of his meme coin. He has laid out his intentions to make the U.S. 'the crypto capital of the planet' through executive orders and the nomination of several crypto-friendly regulators, including Atkins. Amanda Fischer, policy director and chief operations officer of financial policy group Better Markets, said that the SEC ending its legal pursuit of Binance 'marks a new low in the SEC's already disgraceful recent history of surrendering in crypto cases, regardless of the merits and even when the agency is winning in court.' 'By dropping all charges notwithstanding prevailing in the early stages of the litigation, the SEC is dangerously sullying its own reputation,' Fischer said. 'In an almost comical admission, Binance's own Chief Compliance Officer confessed in private chats that the firm was 'operating as a fking unlicensed securities exchange in the USA bro.' And while the Department of Justice's previous case against Binance and CZ resulted in a minimalist charge not nearly commensurate with the harm caused, it is even more shocking that the SEC has surrendered even though the Binance founder has already admitted to myriad violations and spent time in jail for those crimes.' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-05-2025
- Business
- Yahoo
NICE Actimize Announces ENGAGE 2025 the Industry's Leading Fraud & Financial Crime Risk Management Conference
Fighting fraud and financial crime takes center stage, as NICE Actimize leads visionary sessions on how advanced AI technologies shape the future HOBOKEN, N.J., May 29, 2025--(BUSINESS WIRE)--NICE Actimize, a NICE (NASDAQ: NICE) business, today announced its information-packed agenda for ENGAGE 2025, the industry's premier financial crime and compliance industry event. To be held on June 17-18 at New York's Sheraton Times Square Hotel, NICE Actimize's ENGAGE will bring together financial institutions thought leaders and subject matter experts to discuss the technology advancements and best practices in financial crime fighting. More than 200 companies and 1000-plus industry executives from global and regional financial institutions will take part in the event's in-depth sessions, view demo stations showing the latest in advanced AI technology and learn from a renowned lineup of subject matter experts on financial crime risk management. Compelling KeynotesThe welcoming keynote address will be presented by Craig Costigan, NICE Actimize CEO who will focus on the impact of Agentic AI on financial institutions, and the new era of fraud and financial crime prevention. Another compelling opening-day keynote for ENGAGE will be delivered by Damian Williams, the former United States Attorney for the Southern District of New York (SDNY), and current Litigation, Investigations and White Collar Crime partner at leading global law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP. Williams draws on his many years of experience as a senior leader, litigator and strategist to advise clients in high-stakes federal and state government investigations, white collar matters and sensitive internal investigations, and crisis management. During his tenure at SDNY, Williams supervised significant matters involving securities and commodities fraud, public corruption, national security threats, Bank Secrecy Act and sanctions violations, cybercrime, money laundering, sex trafficking, healthcare fraud, violent crime, civil rights violations, as well as False Claims Act and environmental matters. Sessions: Helping FIs Meet ChallengesThe content rich agenda will address powerful disruptors like generative AI and shed light on the most pressing challenges in financial crime, fraud prevention and compliance. Other critical sessions include "Implementing AI into your Financial Crime Programs"; "Dismantling Mule Accounts and Networks"; "Beyond Reimbursement: Taking the Fight to Scams"; "KYC & Fraud Join Forces to Defeat Deepfakes"; and "Synthetic Identities, The Future of FinCrime Tech Stacks." Day one of the event will also include insights from law enforcement on what financial institutions need to know. And on day two, a regulatory roundup panel will review advisory on key regulatory changes and implications. "Addressing the impact of AI on financial crime, NICE Actimize's ENGAGE industry event supports financial institutions as they develop targeted strategies for their future adoption of cutting-edge technologies," said Craig Costigan, CEO, NICE Actimize. "Financial institutions require a powerful combination of intelligence and automation to meet their newest challenges, and our industry-leading event will allow them to network and explore innovative solutions and more effective and efficient options." Please click here to preview the full ENGAGE agenda. To register, please click here. About NICE ActimizeAs a global leader in artificial intelligence, platform services, and cloud solutions, NICE Actimize excels in preventing fraud, detecting financial crime, and supporting regulatory compliance. Over 1,000 organizations across more than 70 countries trust NICE Actimize to protect their institutions and safeguard assets throughout the entire customer lifecycle. With NICE Actimize, customers gain deeper insights and mitigate risks. Learn more at About NICEWith NICE (Nasdaq: NICE), it's never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world's #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform - and elevate - every customer interaction. Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE's marks, please see: Forward-Looking StatementsThis press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Costigan, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the "Company"). In some cases, such forward-looking statements can be identified by terms such as "believe," "expect," "seek," "may," "will," "intend," "should," "project," "anticipate," "plan," "estimate," or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions; competition; successful execution of the Company's growth strategy; success and growth of the Company's cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security breaches against the Company; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or geo-political conditions, such as the impact of conflicts in the Middle East that may disrupt our business and the global economy; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the "SEC"). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company's Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law. View source version on Contacts Corporate Media Contact Cindy Morgan-Olson, +1 646 408 5896, media@ ET Investors Marty Cohen, +1 551 256 5354, ir@ ETOmri Arens, +972 3 763 0127, ir@ CET
Business Wire
29-05-2025
- Business
- Business Wire
NICE Actimize Announces ENGAGE 2025 the Industry's Leading Fraud & Financial Crime Risk Management Conference
HOBOKEN, N.J.--(BUSINESS WIRE)--NICE Actimize, a NICE (NASDAQ: NICE) business, today announced its information-packed agenda for ENGAGE 2025, the industry's premier financial crime and compliance industry event. To be held on June 17-18 at New York's Sheraton Times Square Hotel, NICE Actimize's ENGAGE will bring together financial institutions thought leaders and subject matter experts to discuss the technology advancements and best practices in financial crime fighting. More than 200 companies and 1000-plus industry executives from global and regional financial institutions will take part in the event's in-depth sessions, view demo stations showing the latest in advanced AI technology and learn from a renowned lineup of subject matter experts on financial crime risk management. Compelling Keynotes The welcoming keynote address will be presented by Craig Costigan, NICE Actimize CEO who will focus on the impact of Agentic AI on financial institutions, and the new era of fraud and financial crime prevention. Another compelling opening-day keynote for ENGAGE will be delivered by Damian Williams, the former United States Attorney for the Southern District of New York (SDNY), and current Litigation, Investigations and White Collar Crime partner at leading global law firm Paul, Weiss, Rifkind, Wharton & Garrison LLP. Williams draws on his many years of experience as a senior leader, litigator and strategist to advise clients in high-stakes federal and state government investigations, white collar matters and sensitive internal investigations, and crisis management. During his tenure at SDNY, Williams supervised significant matters involving securities and commodities fraud, public corruption, national security threats, Bank Secrecy Act and sanctions violations, cybercrime, money laundering, sex trafficking, healthcare fraud, violent crime, civil rights violations, as well as False Claims Act and environmental matters. Sessions: Helping FIs Meet Challenges The content rich agenda will address powerful disruptors like generative AI and shed light on the most pressing challenges in financial crime, fraud prevention and compliance. Other critical sessions include 'Implementing AI into your Financial Crime Programs'; 'Dismantling Mule Accounts and Networks'; 'Beyond Reimbursement: Taking the Fight to Scams'; 'KYC & Fraud Join Forces to Defeat Deepfakes'; and 'Synthetic Identities, The Future of FinCrime Tech Stacks.' Day one of the event will also include insights from law enforcement on what financial institutions need to know. And on day two, a regulatory roundup panel will review advisory on key regulatory changes and implications. 'Addressing the impact of AI on financial crime, NICE Actimize's ENGAGE industry event supports financial institutions as they develop targeted strategies for their future adoption of cutting-edge technologies,' said Craig Costigan, CEO, NICE Actimize. 'Financial institutions require a powerful combination of intelligence and automation to meet their newest challenges, and our industry-leading event will allow them to network and explore innovative solutions and more effective and efficient options.' Please click here to preview the full ENGAGE agenda. To register, please click here. About NICE Actimize As a global leader in artificial intelligence, platform services, and cloud solutions, NICE Actimize excels in preventing fraud, detecting financial crime, and supporting regulatory compliance. Over 1,000 organizations across more than 70 countries trust NICE Actimize to protect their institutions and safeguard assets throughout the entire customer lifecycle. With NICE Actimize, customers gain deeper insights and mitigate risks. Learn more at About NICE With NICE (Nasdaq: NICE), it's never been easier for organizations of all sizes around the globe to create extraordinary customer experiences while meeting key business metrics. Featuring the world's #1 cloud native customer experience platform, CXone, NICE is a worldwide leader in AI-powered self-service and agent-assisted CX software for the contact center – and beyond. Over 25,000 organizations in more than 150 countries, including over 85 of the Fortune 100 companies, partner with NICE to transform - and elevate - every customer interaction. Trademark Note: NICE and the NICE logo are trademarks or registered trademarks of NICE Ltd. All other marks are trademarks of their respective owners. For a full list of NICE's marks, please see: Forward-Looking Statements This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including the statements by Mr. Costigan, are based on the current beliefs, expectations and assumptions of the management of NICE Ltd. (the 'Company'). In some cases, such forward-looking statements can be identified by terms such as 'believe,' 'expect,' 'seek,' 'may,' 'will,' 'intend,' 'should,' 'project,' 'anticipate,' 'plan,' 'estimate,' or similar words. Forward-looking statements are subject to a number of risks and uncertainties that could cause the actual results or performance of the Company to differ materially from those described herein, including but not limited to the impact of changes in economic and business conditions; competition; successful execution of the Company's growth strategy; success and growth of the Company's cloud Software-as-a-Service business; changes in technology and market requirements; decline in demand for the Company's products; inability to timely develop and introduce new technologies, products and applications; difficulties in making additional acquisitions or difficulties or delays in absorbing and integrating acquired operations, products, technologies and personnel; loss of market share; an inability to maintain certain marketing and distribution arrangements; the Company's dependency on third-party cloud computing platform providers, hosting facilities and service partners; cyber security attacks or other security breaches against the Company; privacy concerns; changes in currency exchange rates and interest rates, the effects of additional tax liabilities resulting from our global operations, the effect of unexpected events or geo-political conditions, such as the impact of conflicts in the Middle East that may disrupt our business and the global economy; the effect of newly enacted or modified laws, regulation or standards on the Company and our products and various other factors and uncertainties discussed in our filings with the U.S. Securities and Exchange Commission (the 'SEC'). For a more detailed description of the risk factors and uncertainties affecting the company, refer to the Company's reports filed from time to time with the SEC, including the Company's Annual Report on Form 20-F. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company undertakes no obligation to update or revise them, except as required by law.
