Chipotle says shareholders drop bid to split CEO, chairman roles
March 30 The burrito chain Chipotle Mexican Grill Inc said on Thursday its shareholders agreed to withdraw a proposal to split the chief executive and chairman roles.
WASHINGTON Jan 25 A U.S. bank regulator announced on Friday that it fined a South Dakota bank $10 million over problems with its anti-money- laundering controls.
The Office of the Comptroller of the Currency said TCF National Bank of Sioux Falls, South Dakota, was late filing suspicious activity reports between November 2008 and July 2010 about certain cash transactions and wire transfers.
Some of the reports also did not adequately explain or identify potential problems, the OCC said.
Regulators have been cracking down on banks for not closely monitoring suspicious money flows. Earlier this month, the OCC ordered JPMorgan Chase & Co to improve its compliance with the Bank Secrecy Act and anti-money-laundering requirements.
The OCC issued a cease-and-desist order against TCF National Bank in July 2010 and told the bank to fix its anti-money-laundering controls.
"We are confident that with the help of the OCC, we have taken the necessary steps to put in place a best-in-class BSA (Bank Secrecy Act) program and team to lead this critical area moving forward," William A. Cooper, chief executive of TCF, said in a statement.
TCF National Bank neither admitted nor denied the findings, the OCC said.
WASHINGTON, March 30 A divided U.S. Senate on Thursday killed a regulation that had exempted city-run retirement savings plans for low-income workers from strict pension protection laws.