G. Kennedy Thompson of court a case in which it allegedly laundered over $378 billion in cash and traveler's checks from Mexican drug cartels in the years 2004 - 2006, during Thompson's tenure as CEO. Terms of the settlement included a $110 million forfeiture and a $50 million fine. Thompson was pushed out of Wachovia Bank (WB) on June 2, 2008, as head of the nation’s fourth-largest bank, becoming the latest financial services executive to be ousted amid turmoil in the U.S. housing market. Thompson will not receive any incentive pay for the 2008 fiscal year, but according to a filing with the
Home Credit & Finance Bank Home Credit & Finance Bank Home Credit & Finance Bank is a private retail bank founded in 1990 and headquartered in Moscow. The company has branches in Bashkortostan, a republic in Russian Federation. (Ufa, Beloretsk etc.) The company operates not only in Russia, but also in Kazakhstan. As of February 2002, Home Credit & Finance Bank Limited Liability Company operates as a subsidiary of Home Credit. The bank is currently headed by . A bank with same name (Home Credit & Finance Bank) is operating in Belarus as a sister company of the Russian counterpart. The Belarus bank is also