Federal Reserve orders governance overhaul at Banco Santander U.S. units
Richard L. Cassin
July 8, 2015
The Federal Reserve issued an order Tuesday requiring Banco Santander SA to change the way the board of directors oversees the management and operation of its U.S. subsidiaries.
The Fed said an inspection of Santander Holdings USA conducted by the Federal Reserve Bank of Boston identified deficiencies throughout the organization, including its “governance, risk management, capital planning, and liquidity risk management.”… Continue Reading