FinCEN issues alert on fuel smuggling schemes linked to Mexican cartels
FinCEN issued a supplemental alert for financial institutions on suspicious activity connected to Cartel de Jalisco Nueva Generacion and other...
Compliance and Risk
House advances ABA-backed bill to reauthorize Terrorism Risk Insurance Program
The House passed legislation to reauthorize the Terrorism Risk Insurance Act program, which Congress created after the September 2001 terrorist...
OFAC launches online portal for sanctions reconsideration requests
OFAC launched a new online “reconsideration portal” for the submission of requests to be removed from an OFAC sanctions list....
Compliance question: Is July 3 a business day for right of rescission purposes?
For purposes of the right of rescission, Regulation Z (Truth in Lending Act) defines a “business day” as all calendar...
ABA-backed SAFE Banking Act re-introduced in Congress
ABA has long championed the SAFE Banking Act, which would prevent regulators from prohibiting or discouraging financial institutions from serving...
FDIC seeks to ease large bank resolution planning requirements
The FDIC is proposing to reduce the amount of information that large banks must share in their insured depository institution...
ABA supports FCC ‘Know Your Customer’ proposal for originating providers
ABA expressed strong support for the Federal Communications Commission’s proposal to impose specific “know your customer” requirements on voice service...
CFPB announces changes to consumer complaint portal
The CFPB unveiled actions to “restore integrity and utility” to its consumer complaint portal, which it said would increase the...
Rate caps lead to less credit
Recent Fed research finds no surprise in analysis of state-based interest rate caps.
Fed: Stress test results show large banks can withstand economic shock
Large banks are well positioned to weather a severe recession and would be able to continue to lend to households...
