The federal banking agencies and the Financial Crimes Enforcement Network today announced an exemption from customer identification program rules for bank loans to all customers to facilitate the purchase of property and casualty insurance policies, otherwise known as premium finance loans.
The Federal Home Loan Banks awarded approximately $458 million in affordable housing program funds in 2019, approximately the same as the year prior, according to a report released today by the Federal Housing Finance Agency.
The Financial Crimes Enforcement Network has issued a final rule establishing minimum standards for anti-laundering programs for institutions lacking a federal functional regulator, including state chartered non-depository trust companies, private banks and non-federally insured credit unions.
The Financial Crimes Enforcement Network today issued guidance for financial institutions on how they can conduct due diligence on hemp-related businesses and on what types of information and documentation they may be required to collect from these businesses to comply with Bank Secrecy Act requirements.
The Financial Crimes Enforcement Network and the financial regulatory agencies today announced an exemption from the customer identification program rules for premium finance loans made by banks to commercial customers.
FinCEN’s rule on customer due diligence takes effect this May. Is your bank ready?
As the banking industry prepares to implement the Financial Crimes Enforcement Network’s final beneficial ownership rule, FinCEN Acting Director Jamal El-Hindi today said that the agency is considering additional guidance to help address lingering questions from financial institutions ahead of the May 2018 compliance deadline.
The Financial Crimes Enforcement Network today issued a proposed rule imposing — for the first time — anti-money laundering program and Customer Identification Program requirements for banks without a federal functional regulator.
FinCEN yesterday released the text of its long-awaited final customer due diligence rule, which is expected to be published in the Federal Register on May 11.
The federal financial regulators, along with the Financial Crimes Enforcement Network, today issued guidance to depository institutions on how to apply customer identification programs to the prepaid cards they issue.