Banking Trade Groups Call for Inclusion of AML/CFT Bill in NDAA
In a letter to Senate Armed Services Committee leaders this weekend, ABA joined six other financial trade organizations calling for ...
Tag: Know your customer
Nichols Calls for Adjustments to KYC Rules to Facilitate PPP Loans
Temporary adjustments to “know your customer” and anti-money laundering requirements are “key” to speeding up the rate at which banks ...
SBA, Treasury Clarify Beneficial Ownership Requirements for PPP Loans
The Small Business Administration and Treasury Department provided guidance today clarifying lenders’ obligations to collect beneficial ownership data when making ...
OCC Supports FinCEN’s Approach to BSA Compliance During Pandemic
The OCC today issued a statement of support for the Financial Crimes Enforcement Network’s approach to Bank Secrecy Act compliance ...
FinCEN Issues Statement on Bank Secrecy Act Reporting During Pandemic
Recognizing the operational challenges many banks are facing due to COVID-19, FinCEN today issued a statement regarding Banks’ Secrecy Act ...
FATF Upgrades Assessment of U.S. Regarding Beneficial Ownership Framework
In a significant development for the industry, the Financial Action Task Force recently upgraded its assessment of the United States’ ...
FinCEN’s Blanco Touts Need for Legislative Solution on Beneficial Ownership
The lack of beneficial ownership information collected when companies are formed is “a dangerous and widening gap in our national ...
How Can I Provide a Housing Counselor List to an Overseas Borrower?
...and other answers to your compliance questions in the November/December 2019 ABA Regulatory Policy and Compliance Inbox.
House Passes ABA-Advocated AML Modernization Bill in Bipartisan Vote
The House today voted to pass the ABA-backed Corporate Transparency Act (H.R. 2513). The legislation, sponsored by Rep. Carolyn Maloney ...
ABA, State Associations Urge House to Pass AML Modernization Bill
ABA and the state bankers associations today urged the House to pass the Corporate Transparency Act (H.R. 2513), which is ...
