Banking agencies issue revised risk management model guidance
The federal banking agencies rescinded existing risk management model guidance and replaced it with revised principles that they said better...
Compliance and Risk
RCC Preview: Flipping the script on traditional tech risk in banking
In the first part in a series, a risk and compliance expert discusses how technology risk in the financial sector...
FHLBs propose allowing letters of credit for discount window advances
Federal Home Loan Bank members should be allowed to use short-term FHLB letters of credit to secure advances through the...
Study: Weak fundamentals primary cause of bank failures
A recent study of more than 150 years of U.S. bank data has concluded that weak fundamentals are the primary...
ABA: Policymakers should avoid changes that reduce credit availability
The Fair Credit Reporting Act is a critical consumer protection law that supports responsible lending, and policymakers should avoid changes...
FinCEN touts nearly $2B in interdicted funds related to cybercrime
FinCEN's Rapid Response Program has facilitated the interdiction of over $268 million in stolen funds on behalf of U.S. victims...
Treasury steps up Iranian sanctions, eases order against Mexican bank
OFAC announced new sanctions to target illicit oil smuggling by Iran. In addition, the FinCEN announced it was easing a...
ABA Foundation testifies on protecting older Americans from financial exploitation
During a Senate hearing, the ABA Foundation outlined the critical role banks play in protecting older Americans from fraud and...
ABA, state associations: SCAM Act will reduce consumer fraud losses
Legislation to hold social media companies accountable for the scam ads appearing on their platforms would reduce consumer fraud losses...
OFAC exemption for Russia oil sanctions expires
The Office of Foreign Assets Control did not extend a one-month exemption on sanctions for Russian oil exports, which expired...
