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.

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.

With interest rates on the rise and new leadership in D.C., risk conditions on the ground are considerably different today from one year ago.

Do social media comments belong in the public CRA file... and more.

Members of the Federal Reserve’s Community Depository Institutions Advisory Council -- which includes several ABA member bank CEOs -- raised concerns over the uncertain regulatory environment for innovation and bank-fintech partnerships and over growing regulations that directly harm the customer experience, according to minutes of the CDIAC’s last meeting released by the Fed.

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

Rep. Robert Pittenger (R-N.C.), the vice chairman of the House Financial Services Committee’s Task Force to Investigate Terrorism Financing, today took the Financial Crimes Enforcement Network to task over a too-short comment period on regulatory analyses for its customer due diligence rulemaking.

The Financial Crimes Enforcement Network’s evaluations of the regulatory impact of its proposal to enhance customer due diligence requirements fail to consider the true costs and effects -- and overstate the benefits -- the rule would impose on banks of all sizes, ABA said in a members-only staff analysis issued today.

ABA in a comment letter yesterday to the Bank for International Settlements voiced its support for three of the four recommendations made by BIS’ report on correspondent banking to improve the cross-border payments marketplace, but said that the report ultimately failed to address the central issue of excessive regulatory burden leading to the termination of correspondent banking relationships.