Bank with major Philadelphia operations discloses fraudulent activity that could total up to $90M

//Bank with major Philadelphia operations discloses fraudulent activity that could total up to $90M

Bank with major Philadelphia operations discloses fraudulent activity that could total up to $90M

KeyCorp told regulators that it discovered fraudulent activity that could cost the lender up to $90 million. According to a filing Tuesday, around July 9 the parent company of KeyBank N.A. found fraudulent activity "associated with transactions conducted in the third quarter of 2019 by a business customer of KeyBank, a subsidiary of the company." Cleveland-based KeyCorp (NYSE: KEY), which entered the Philadelphia market via the 2016 acquisition of First Niagara Financial Corp., said it continues…

Article by [author-name] (c) Banking & Financial News - Banking & Financial News Headlines | Bizjournals.com - Read full story here.

By | 2019-07-16T23:52:46+00:00 July 16th, 2019|Economics|

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