Browsing: Compliance and Risk

Compliance and Risk

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.

Compliance and Risk

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.

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