Browsing: Compliance and Risk

Compliance and Risk

In a comment letter filed this week, ABA and the Clearing House expressed their support to the Financial Crimes Enforcement Network’s goal on protecting the U.S. financial system from money laundering, terrorist financing and financial crimes, but offered suggestions on FinCEN’s proposal to impose special measures against Banca Privada d’Andorra.

Compliance and Risk

Responding to industry concerns that their Bank Secrecy Act reporting goes unread or unused, the Financial Crimes Enforcement Network yesterday spotlighted six law enforcement cases in which prosecutors made effective use of BSA data to win. The inaugural Law Enforcement Awards were conceived as a way to show financial institutions that their reports are not “going

Community Banking

Senate Banking Committee Chairman Richard Shelby (R-Ala.) today released a draft of a sweeping financial reform bill that would provide regulatory relief for banks of all sizes, tailor the regulatory structure for systemically important banks and begin restructuring within the Federal Reserve System and at Fannie Mae and Freddie Mac.

Compliance and Risk

The Consumer Financial Protection Bureau today issued a bulletin reminding creditors to include income from Section 8 homeownership vouchers when underwriting mortgage loans, in keeping with the prohibition on discrimination based on income derived from a public assistance program under the Equal Credit Opportunity Act and Regulation B.

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