(Source: The Hill, March 7, 2013)
WASHINGTON, D.C. — Financial regulators faced relentless questioning Thursday from senators frustrated the nation’s largest financial institutions haven’t faced tougher penalties and more prosecutions for corporate malfeasance.
For several hours, top officials from the Treasury Department, Federal Reserve and Office of the Comptroller of the Currency were on the defensive, as member after member accused them of slapping banks on the wrist for regular and repeated violations of anti-money laundering laws, including the complete lack of criminal prosecutions for those involved.
Full story: The Hill