Appointments follow multiple executive changes as bank resolves U.S. investigations into anti–money laundering program
Outgoing CEO Masrani, who's retiring in 2025, says Chun is "the right leader at the right time"
Bank repeatedly shared wrong information with credit reporting agencies, CFPB alleged
Higher loan-loss reserves drag on Q3 net income, despite revenue gains
Resolving the investigations will mean both monetary and non-monetary penalties, the bank said
Firms charged over unapproved off-channel communications
Asset quality, capital expected to remain strong
DBRS estimates $27 billion in capital needed to keep ratios at current levels
Court rejects confidentiality in alleged wrongful dismissal case
Easing financial pressures are expected to slow decline in credit quality, boost loan demand