Browsing: Bank Secrecy Act

Compliance

Ahead of a Senate Banking Committee hearing tomorrow on beneficial ownership, the American Bankers Association wrote to committee members calling for the establishment of a federal registry of beneficial ownership information that banks could use to facilitate compliance with FinCEN’s customer due diligence rule.

Legal

These enforcement actions highlight regulators’ expectation that financial institutions implement robust anti-money laundering/Bank Secrecy Act compliance programs.

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