BAFT, ABA’s global transaction banking subsidiary, today announced the election of new officers for the 2017-2018 association year. BAFT’s new chairman will be Kimberly Burdette, SVP and manager of international financial institutions at PNC. David Scola, head of the financial institutions group in corporate banking at Barclays, will serve as vice chairman, and Mark Garfield, head of global financial institutions at Zions Bancorporation, will serve as secretary and treasurer.
FinCEN issues guidance to help bank customers understand new BOI reporting rules
FinCEN issued a notice to financial institution customers about the new beneficial ownership information reporting rule requirements, explaining why certain customers must report directly to the agency in addition to giving information to their banks, which are subject...