Closing Market Report 2/15/2018

The KUIK Closing Market Report for Thursday, February 15:

Markets were up.

Index

Direction

Change

Units

Index

Time

Change

Dow

Up

                   307

 points

        25,200

1:54 PM

S&P500

Up

1.2%

percent

          2,731

       1.38

Nasdaq Composite

Up

1.6%

percent

          7,256

       9.00

30 Year Treasury

Down

                     (3)

Basis Points

           3.14

Annual Yield

Regulators hit U.S. Bancorp, the nation’s largest regional bank, founded here in Portland but now headquarted in Minneapolis with more than $800 million in fines for it’s anti-money laundering practices. The Justice Department announced a deferred prosecution related to the Bank Secrecy Act. Separately, the Federal Reserve ordered the bank to improve compliance with anti-money laundering laws. According to the Financial Crimes Enforcement Network, the bank capped the number of alerts its transaction monitoring system would generate without regard for the legitimate alerts that would be lost. The actual fines totaled $613 million, reflecting credits for completed remediation work.

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www.marketwatch.com/story/us-bancorp-hit-with-800-million-in-fines-for-poor-compliance-with-anti-money-laundering-laws-2018-02-15

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