$32.4M Fine For Info Disclosure Is A Stark Warning For Banks

By Timothy Treanor, Michael Lewis and Laura Sorice (February 15, 2024, 4:11 PM EST) -- On Jan. 17, the New York State Department of Financial Services entered into a consent order with Industrial and Commercial Bank of China Ltd., resolving a matter in which ICBC's New York branch disclosed confidential supervisory information, or CSI, without authorization.[1] The order includes a civil monetary penalty of $30 million....

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