Bank of New York Mellon Corp. will pay a $5 million penalty after a US regulator said that it failed to properly report millions of swaps transactions and supervise a unit that deals the derivatives.
The Federal Deposit Insurance Corp. and two other top US bank regulators want more information on lenders’ relationships with financial-technology firms.
Bank of Montreal has received approval from the Federal Reserve to acquire San Francisco-based Bank of the West, a combination that will create the 15th-largest US lender.
The US Securities and Exchange Commission is awarding more than $37 million to a whistleblower whose information contributed to a successful SEC enforcement action.