The Federal Reserve warned Goldman’s fintech unit about risk and compliance oversight, according to FT.
A division of Goldman Sachs’ transaction-banking business (TxB) has stopped signing on riskier financial technology clients after a warning from the U.S. According to the Financial Times report on Thursday, the Federal Reserve had a discussion about risk and compliance earlier this year. The Fed has raised concerns about the Goldman division’s insufficient due diligence and monitoring processes when accepting high-risk non-bank clients. Published on 17 August