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

Federal Reserve Governor Christopher Waller provided an update on the feedback the Fed received about a proposal to create “skinny” accounts for payment services, acknowledging that banks and financial technology firms want conflicting things from the proposed service.

The Office of Foreign Assets Control has launched an online portal for individuals to submit voluntary self-disclosures of potential violations of OFAC-administered sanctions programs.

The essential ingredients are organized customer data and harnessing that data to produce smarter marketing programs.

The FDIC announced that it will push back to May the deadline for comment on its proposal to create a process through which banks can seek agency approval to issue stablecoins through a subsidiary.

Proposed legislation would provide “a strong framework” to improve social media companies’ urgency in removing fraudulent advertising, “stopping countless scams before they start,” ABA President and CEO Rob Nichols said in a letter to the bill’s sponsors.

Lawmakers reauthorized a voluntary framework for the private sector and government agencies to share information about cyberthreats as part of a larger budget deal.