Bloomberg China’s banking regulator is handing out fines at a record pace, as it battles a build-up of financial risk. The China Banking and Insurance Regulatory Commission, along with its predecessor agency, has issued fines worth about $585 million since Chairman Guo Shuqing took charge of the watchdog in early 2017, compared with a total of some 1 billion yuan ...

Bloomberg Wells Fargo & Co. is facing a Department of Justice (DOJ) investigation into whether employees in the company’s wholesale-banking business improperly altered customer data, a person familiar with the matter said. The changes were made to meet a regulatory deadline, the Wall Street Journal reported earlier Thursday. “This particular situation involved a new process and a new required document ...

Bloomberg British Airways may become the first high-profile company to run afoul of Europe’s far-reaching data privacy rules — and face potentially hefty fines — after a computer hack compromised credit card data from some 380,000 customers. The European Union’s General Data Protection Regulation, or GDPR, which took effect in May, mandates that companies have to take technical precautions such ...