Fitch Says Anti-Money Laundering Is An Area Of Bank Regulation That Is Not Materially Loosening

By Reuters News

Oct 16 (Reuters) - Fitch:

  • FITCH: ANTI-MONEY LAUNDERING IS AN AREA OF BANK REGULATION THAT IS NOT MATERIALLY LOOSENING DESPITE A BROADER SHIFT TOWARD REGULATORY RELIEF

  • FITCH: REMEDIATION, OPERATING CONSTRAINTS, IF IMPOSED ON LARGE BANKS DUE TO ANTI-MONEY LAUNDERING ACTIONS, COULD PRESSURE MEDIUM-TERM PROFITABILITY

  • FITCH: AML DEFICIENCIES, ENFORCEMENTS AND PROLONGED REMEDIATION COULD AFFECT CREDIT QUALITY IF THEY CONSTRAIN A BANK'S FRANCHISE, GROWTH OR EARNINGS

  • FITCH: DOES NOT VIEW AML REMEDIATION COSTS AS A NEW RECURRING COST BURDEN FOR BANK OF AMERICA

Further company coverage: BAC.NAXP.NTD.TO

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