ABA: Proposed customer identification standards for stablecoin issuers need strengthening
A proposed rule to require payment stablecoin issuers to maintain customer identification programs must go further if it is to ...
Tag: FinCEN
Compliance Inbox: Responding to Section 314(a) requests
Banks should familiarize themselves with FinCEN’s 314(a) FAQs, and follow prescribed procedures to contact FinCEN.
FinCEN: Financial institutions flagged nearly $5B linked to suspected human smuggling
While depository institutions filed only 3% of BSA reports on possible human smuggling, their reports accounted for approximately 61%, or ...
FinCEN finalizes rule ending beneficial reporting for U.S. businesses
FinCEN has finalized a rule removing the requirement for U.S. companies and persons to report beneficial ownership information to the ...
FinCEN renews Minnesota geographic targeting order
FinCEN renewed a geographic targeting order requiring certain banks and money transmitters located in Hennepin and Ramsey counties, which include ...
ABA: More work needed to harmonize BSA/sanctions requirements for stablecoin issuers
ABA supports requiring stablecoin issuers to comply with the Bank Secrecy Act and sanctions requirements, but proposed rulemaking to establish ...
ABA, associations ask agencies to commit to reproposing conflicting Genius Act rules
As the various federal banking agencies race to establish separate regulations for stablecoin issuers, they should be open to reproposing ...
FinCEN issues statement on Bank Secrecy Act compliance, Venezuelan disaster aid
FinCEN will not take any supervisory or legal actions against U.S. financial institutions for providing authorized financial services in Venezuela ...
ABA seeks equal treatment for all institutions under proposed stablecoin BSA, sanctions rule
ABA supports the OCC’s proposed approach to treat stablecoin issuers like financial institutions for Bank Secrecy Act and sanctions compliance, ...
FinCEN urges financial institutions to help identify federal student aid fraud
FinCEN issued an alert urging financial institutions to be vigilant in identifying and reporting suspicious activity connected to fraud schemes ...
