A division of Goldman Sachs' transaction banking business (TxB) has stopped signing on riskier financial technology clients after a warning from the U.S. Federal Reserve over risk and compliance earlier this year, the Financial Times reported on Thursday. The Fed has raised issues including insufficient due diligence and monitoring processes by the Goldman division when accepting high-risk non-bank clients, the report said, citing people with knowledge of the talks. Goldman Sachs, the Fed and TxB did not immediately respond to a Reuters request for comment on the report.
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