Podcast: What Legislative and Regulatory AML/BSA Changes Mean for Banks

The House Financial Services Committee advanced four bills supported by ABA, covering topics ranging from stress testing to community banks.

At some point, financial activity becomes inextricably intertwined with the regulatory framework. It is understandable why this happens, but it is nonetheless self-limiting.

Clarity and simplicity go a long way in demonstrating to a customer or prospect the benefits of each product.

ABA is urging lawmakers to reauthorize the National Flood Insurance Program for five years and make changes to modernize and improve the program’s stability and affordability, as well as improve compliance requirements for the Flood Disaster Protection Act.

Starting in November, the FedNow Service network transaction limit will be increased from $1 million to $10 million in response to growing commercial demand.

The FDIC is seeking to conduct a survey on the costs of compliance with anti-money laundering and countering the financing of terrorism regulations, according to a notice published in the Federal Register.