Legal

FinCEN Spotlights Victories Triggered by BSA Reports

As part of the Financial Crimes Enforcement Network’s ongoing efforts to demonstrate that financial institutions’ Bank Secrecy Act reporting is read and used, FinCEN today spotlighted six law enforcement cases that made effective use of BSA data to prosecute successfully.

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CFPB Proposal Would Undermine Benefits of Arbitration

The Consumer Financial Protection Bureau today released a proposal that would prohibit customers from waiving their ability to participate in class action suits and limit drastically the use of mandatory arbitration agreements for financial products and services.

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Final Fiduciary Rule Includes ABA-Advocated Revisions

The Labor Department’s final rule redefining who counts as a fiduciary under the Employee Retirement Income Security Act and Internal Revenue Code was released today and includes a number of revisions from its initial proposal, several of which were advocated by ABA.

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