Bank wins fair trade award
In some much-needed good news for Latvia's banking sector, Swedish-owned SEB banka has won an annual Fair Trade Award for building its business and relations with employees, suppliers and partners on the basis of respect, honesty and sustainability. 
Deposits in Latvian banks decrease 11% in first quarter
The Association of Latvian Commercial Banks (ALCB) has produced a summary of the financial trends in the banking sector during the first quarter of 2018 - a period of considerable developments caused by the collapse of ABLV bank and a subsequent scramble to clean up the non-resident banks. As a result, there are some eye-catching statistics among the data.
Shell company accounts in decline in Latvian banks
The number of so-called "shell companies" - corporate entities designed simply to carry out complex financial transactions, often as part of money-laundering schemes - doing business via Latvia banks is in sharp decline, Latvia's financial regulator said June 5.
Regulator treading water on ABLV liquidation plan
Latvia's financial regulator, the Financial and Capital Markets Commission (FKTK) has still not decided whether or not to accept a self-liquidation plan proposed by ABLV bank three months ago, reported LTV June 1st.
Regulator fines Meridian Trade Bank 455,000 euros
Latvia's financial regulator, the Financial and Capital Market Commission (FKTK) said May 25 it had "entered into an administrative agreement" with Meridian Trade Bank, imposing legal obligations and a fine of 455,822 euros for anti- money laundering failures. 
Non-resident banking market shrinking substantially
Non-resident deposits in Latvian banks shrank by 27.1 percent or EUR 2.185 billion in the first quarter of this year to EUR 5.869 billion at the end of March, the Financial and Capital Market Commission said May 21, according to the LETA news agency.
Watch: Banking sector clean-up group has its first meeting
The first meeting of a new "cooperation group" aimed at restoring the battered reputation of Latvia's banking sector met on May 9 and the government office has now released a video, with English subtitles, of the press conference held immediately afterwards, which can be viewed above.  
Rietumu assets down 28% in first quarter as bank reforms bite
Rietumu bank has published its annual report for 2017, which paints a rosy picture of the situation during last year. However, notes attached to the report, compiled by auditors KPMG, show that the impact of threatened U.S. action against Latvia's boutique banking sector, and a subsequent clampdown by Latvian authorities following the collapse of rival ABLV bank are having a major impact among the banks that traditionally service overseas clients during the early part of 2018.
PM forms group to "restore reputation" of Latvia's banks
In a day of frenzied activity to address problems in Latvia's banking sector April 26, Prime Minister Māris Kučinskis issued a decree that he hopes will help "restore the international reputation of Latvia's banking sector," currently tarnished by a large amount of evidence the country has acted as a major money-laundering hub for years.
Latvijas Krājbanka appeal case gets underway
Hearings started April 24 in a court case related to the collapse of the bank Latvijas Krājbanka (Latvian Savings Bank) in 2011 in murky circumstances, reports LTV's Anete Bērtule.
ABLV asks FinCEN to cancel sanctions
Lawyers representing Latvia’s ABLV Bank, the local Latvian bank which is currently liquidating itself in response to U.S. allegations of institutionalized money laundering, have called on the Financial Crimes Enforcement Network (FinCEN) of the U.S. Department of Treasury to cancel planned sanctions against the bank.
Former CIA official representing ABLV in dispute with FinCEN
David Cohen, former deputy director of the U.S. Central Intelligence Agency and supervisor of the Financial Crimes Enforcement Network (FinCEN), now a partner at the international law firm WilmerHale, is representing Latvian commercial bank ABLV Bank in its dispute with FinCEN, the bank told LETA April 18.
ABLV Bank to fire 250 employees in April
Latvia’s ABLV Bank whose shareholders made a decision on voluntary liquidation, will fire 250 employees in April, said ABLV group’s spokesman Arturs Eglitis April 13.