BAFT — the American Bankers Association’s global transaction banking subsidiary — commented last week on the Basel Committee’s proposed revisions to its guidance on managing risks related to anti-money laundering and terror financing. In a joint letter with the Institute for International Finance, BAFT urged the committee to acknowledge that not all correspondent banking services and not all cross-border correspondent banking relationships are high-risk, and warned against any revisions to the guidance that would inadvertently further derisking activity.
ABA, state associations favor narrower focus for small-business data collection rule
ABA and 52 state bankers associations said that they support most of the proposed revisions to the CFPB’s small-business lending data rule to scale back the scope of data collection.
