As the House Financial Services Committee today held a hearing on the financial crime, the American Bankers Association joined eight other financial trade organizations in a letter to committee leaders highlighting the need for a national beneficial ownership registry.
Browsing: Anti-money laundering
The Financial Crimes Enforcement Network last week released a revised list of the jurisdictions that are subject to countermeasures or enhanced due diligence due to anti-money laundering and counter-terrorist financing deficiencies, as well as jurisdictions with AML/CFT deficiencies that are working to correct them.
Reps. Ed Perlmutter (D-Colo.), Denny Heck (D-Wash.), Steve Stivers (R-Ohio) and Warren Davidson (R-Ohio) today introduced a bipartisan bill that aims to address the gap between state and federal laws that inhibit most financial institutions from serving cannabis businesses.
From HMDA to CRA and from fair lending to anti-money laundering, 2019 promises to be a busy year in the world of compliance.
Imposing a 5 percent tax on cross-border remittances to fund border barriers — as envisioned in H.R. 85, the Fund and Complete the Border Wall Act — could have adverse consequences for law enforcement and consumers, a coalition of trade groups including the American Bankers Association said today.
The European Commission today issued its own list of 23 jurisdictions that it said have “strategic deficiencies” in their anti-money laundering and counter-terrorist financing frameworks.
With the House Financial Services Committee set to hold a hearing tomorrow on the challenge of banking marijuana-related businesses, ABA today submitted a statement for the record urging Congress to resolve the legal conflict that inhibits banks from serving MRBs operating legally at the state level.
One bank put its financial intelligence capabilities to work helping law enforcement tackle the Super Bowl sex trafficking surge.
Along with major sporting events like the Super Bowl comes a tragic increase in victims of sexual trafficking in that city.