Recent news from Treasury’s Office of Foreign Assets Control: July 20
OFAC took a number of significant sanctions actions over the last week across multiple programs:…
Browsing: Uncategorized
Missouri banker: Beneficial ownership registry must be fully accessible to banks
The Financial Crimes Enforcement Network’s implementation of the Anti-Money Laundering Act of 2020 must be done in line with congressional intent, Pete Selenke, VP and AML/BSA Officer for The Central Trust Bank in Jefferson City, Missouri, told House lawmakers.
Recent news from Treasury’s Office of Foreign Assets Control: July 13
OFAC took sanctions action over the last week in the Balkans and Illicit Drug Trade…
Compliance question of the month: Is it unfair practice to reopen deposit accounts that consumers previously closed to process debits or deposits?
In May 2023, the Consumer Financial Protection Bureau issued Consumer Financial Protection Circular 2023-02 that…
Terrorism and money laundering aggregates published: April through June 2023
The FinCEN 314(a) Updates section is published on a periodic basis to better capture the…
Supreme Court upholds government authority to dismiss False Claims Act cases
In an 8-1 decision, the U.S. Supreme Court ruled the federal government retains authority to dismiss whistleblower FCA cases at any time once it intervenes.
ABA, trade groups file reply brief in support of motion for preliminary injunction in 1071 litigation
ABA, Texas Bankers Association and Rio Bank filed a reply brief supporting their motion for preliminary injunction in their lawsuit challenging CFPB’s final rule implementing section 1071 of the Dodd-Frank Act.
Eleventh Circuit determines Chase not liable in Fair Credit Reporting Act lawsuit
ABA and a group of trades filed an amicus brief urging the Third Circuit to rule furnishers need not resolve legal disputes under the FCRA. But the panel did not address whether legal inaccuracies can raise a claim under the FCRA.
Eleventh Circuit upholds sanctions against CFPB for discovery abuses
CFPB sued eighteen defendants for engaging in a fraudulent data collection scheme under the Consumer Financial Protection Act and the Fair Debt Collection Practices Act.
Supreme Court rules district court must stay proceedings pending appeal of arbitration denial
In a 5-4 decision written by Justice Brett Kavanaugh, the U.S. Supreme Court ruled a district court must stay its proceedings while an interlocutory appeal on the question of arbitration is pending.