Newsclip®: [Business] In brief: Regulators fine Raymond James, saying money-laundering controls are lacking - Houston Chronicle

"WASHINGTON - Industry regulators have fined Raymond James $17 million, accusing the financial services firm of widespread failures in its controls against money laundering. FINRA said Raymond James failed over several years to detect suspicious activity in client investment accounts and to report it to government authorities. Lowe's on Wednesday reported a surging first-quarter profit as key sales metrics jumped in the midst of a strong recovery in the U.S. housing market. Home improvement stores continue to distance themselves from a retail sector that can't seem to get shoppers through the door, or to spend much money when they do. People who put their cars up as collateral for what are supposed to be short-term emergency loans are being hit with interest rates of 300 percent, a high rate of repossession and long repayment periods. The report is the first by federal regulators to look at the auto title lending industry, which has grown since the recession but remains",

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