Tag Archives: anti-money laundering

FinCEN Expands Geographic Targeting Orders to Include Honolulu

The Financial Crimes Enforcement Network today further expanded the scope of its geographic targeting orders temporarily requiring certain U.S. title insurance companies in specified areas to identify the individuals behind companies used to conduct high-end, all-cash real estate transactions.

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ABA Recommends Changes to BSA/AML Regulations

In a comment letter to the Treasury department yesterday, ABA provided extensive feedback on several Bank Secrecy Act and anti-money laundering regulations that could be eliminated, modified or streamlined to reduce the compliance burden on banks in response to an executive order issued by President Trump earlier this year.

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Bipartisan Group of Lawmakers Calls for Better Exam Coordination

In a letter to Treasury Secretary Steven Mnuchin yesterday, a group of bipartisan lawmakers urged Treasury to prioritize policy changes that would increase coordination between regulatory agencies conducting bank examinations to help reduce the compliance burden on financial institutions.

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Florida Banker: BSA/AML Rules Must Change with the Times

The regulatory framework put in place to prevent money laundering and stop the financing of terrorist activity should be updated to reflect the changes that have taken place over the past several decades, banker Lloyd DeVaux, president and CEO of Sunstate Bank in Miami, Fla., said today in a hearing before the House Financial Services Committee.

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