Big banks face $1.8 billion in fines for employee messaging record-keeping blunder

Quick Summary:

Eight banks and three other FIs will pay a combined $1.8 billion for their message retention failures, highlighting the need for better tech tools at work.

The news: The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have levied fines totaling more than $1.8 billion against eight banks and three other financial institutions for failing to retain employee messages, per MarketWatch.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: Economy

Markets: United StatesMali

Topics: BI Intelligence Financial Services News BI Intelligence Content Marketing Insider Intelligence Insider Intelligence - Finance Finance

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-29 @ 15:06:58 (4 months ago)

News Timezone: GMT -5:00

Ranking: #1580 (out of 3415 stories this day)

News Source URL: businessinsider.com

Language: English

Article Length: 41 words

Reading Time: 1 minutes read

Sentences: 24 lines

Sentence Length: 2 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Insider

News ID: 621878

View Article Analysis

About Business Insider

Main Topics: EconomyBusiness

Official Website: businessinsider.com

Update Frequency: 64 posts per day

Year Established: 2007

Headquarters: United States

News Last Updated: 8 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #64

Publisher Details

Frequently Asked Questions