The Financial Crimes Enforcement Network is exploring ways of more effectively sharing information in the fight against money laundering/terrorist financing, FinCEN Director Jennifer Shasky Calvery said at the Royal United Services Institute’s workshop on “Tackling Money Laundering: Towards a New Model for Information Sharing” in London.
Browsing: Compliance and Risk
Hundreds of lawmakers wrote to the Consumer Financial Protection Bureau last week urging Director Richard Cordray to provide an enforcement grace period after the TILA-RESPA integrated disclosures take effect on Aug. 1 running through the end of 2015.
ABA and other trade groups last week urged the Consumer Financial Protection Bureau to solicit public comment on its recently issued arbitration study before it considers rulemaking on the subject.
The Federal Reserve today requested comments on changes that the regional Federal Reserve Banks would make in connection to NACHA’s same-day ACH rule.
At the direction of the Federal Housing Finance Agency, Fannie Mae and Freddie Mac yesterday announced new standards that mortgage institutions would have to meet in order to sell loans to or service loans on behalf of the housing GSEs. The new standards include net worth, capital and liquidity requirements both for depository institutions and for nonbanks.
FinCEN announced that Jamal El-Hindi will be FinCEN’s new deputy director. El-Hindi joined FinCEN in 2006 where he was head of the former regulatory policy and programs division.
Just two months remain before the Volcker Rule goes into effect on July 21, and ABA will host a conference call on Wednesday, May 27, to allow bankers to discuss exam preparedness and Volcker-specific compliance issues.
Surface benefits for consumers from the 2009 Credit CARD Act have been offset by significant negative effects, ABA told the Consumer Financial Protection Bureau yesterday.
ABA today welcomed the Federal Reserve’s proposal to require banking organizations to include their current 20-digit legal entity identifiers on several regulatory forms¬—namely, FR Y-6, FR Y-7 and FR Y-10.
In remarks at the 2015 Bank Secrecy Act Conference in Las Vegas, Nevada on June 18, the Financial Crimes Enforcement Network’s (FinCEN) associate director of enforcement, Stephanie Brooker, focused on three main points: the importance of Bank Secrecy Act (BSA) and Suspicious Activity Report (SAR) filings; FinCEN’s enforcement approach; and promoting a strong culture of compliance in the financial industry.