FTC warns young adults about social media fake check scam
A new social media scam seeks to trick young people into depositing fake checks in exchange for paintings of the...
Compliance and Risk
CFPB issues warning against whistleblower retaliation
The CFPB issued a circular to “remind regulators and the public” that requiring employees to sign broad confidentiality agreements—without expressly...
OFAC to propose extending recordkeeping requirements
The Office of Foreign Assets Control released guidance announcing plans to issue an interim final rule to extend recordkeeping requirements...
Why API governance is a necessary strategy
Banks face challenges with maximizing their APIs as rapid adoption outpaces control measures.
ABA, associations: Banks cannot fight financial scams on their own
Banks are only one contributor to the overall safety and security of the payments ecosystem and cannot single-handedly prevent criminals...
Financial Stability Board chair warns of ‘uneven’ progress in nonbank regulation
Recent incidents have shown that nonbank entities can create or amplify risk throughout the global financial system, but the pace...
Banking agencies propose rule to align AML/CFT requirements
Four federal agencies proposed a joint rule that would align each agency's Bank Secrecy Act compliance program requirements with proposed...
Treasury: State bank laws may interfere with federal AML, sanctions requirements
State laws that require banks to provide services to certain customers may inhibit bank’s ability to comply with federally required...
Government watchdog agency: Bank regulators failed to properly document effects of regulation
Bank regulators have failed to consistently document their analyses and reviews of proposed and existing rules, with the Federal Reserve...
New task force to tackle financial fraud, scams
The nonprofit Aspen Institute announced a new task force to develop a nationwide strategy aimed at helping prevent financial fraud...
