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.
Fed seeks public input on potential changes to its check services
The Federal Reserve is seeking public input on potential changes to the check services it provides to banks and credit unions, although support for the request is not unanimous among Fed board members. Also, the Fed announced 2026...
