Tag Archives: Bank Secrecy Act

Agencies Working with FinCEN on Marijuana Banking Guidance

The federal banking agencies are having discussions with the Financial Crimes Enforcement Network about guidance on how financial institutions can serve marijuana-related businesses, an OCC official said today during a regulatory roundtable at the ABA Government Relations Summit.

Read More »

ABA Questions FinCEN Analysis of Due Diligence Rule

The Financial Crimes Enforcement Network’s evaluations of the regulatory impact of its proposal to enhance customer due diligence requirements fail to consider the true costs and effects -- and overstate the benefits -- the rule would impose on banks of all sizes, ABA said in a members-only staff analysis issued today.

Read More »