The Federal Reserve Bank of Chicago

The Dowling Advisory Group is honored to kick off the 18th Annual Community Bankers Symposium in Chicago with a keynote address on Friday, October 11, 2024.  The training which is designed for community banking executives is hosted by the Federal Reserve Bank of Chicago, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC) and the Conference of State Bank Supervisors.

Participants will include executive officers and directors from the 7th District community banks, bank holding companies, thefts, savings and loans, banking trade associations and regulatory agencies.

A key lesson in the training…profits cannot be pursued at the expense of compliance. Just ask TD Bank which just got hit with a record fine of $3B for money laundering.

https://www.cnbc.com/2024/10/10/td-bank-3-billion-fine-doj-settle-money-laundering-drug-cartel.html

As Deputy Attorney General Lisa Monaco said, “Every bank compliance official in America should be reviewing today’s charges as a case study of what not to do. And every bank CEO and board member should be doing the same.”