Tag Archives: reporting

ABA: DOL Form 5500 Proposal Falls Short

A 900-page proposal by the Department of Labor to update Form 5500 is “overbroad and significantly exceeds the requisite information necessary or appropriate for effective… reporting,” ABA said in a comment letter today.

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ABA Rejects Proposal to Expand Money Laundering Risk Assessment

ABA today urged the Office of Management and Budget to reject the OCC’s proposed changes to its Bank Secrecy Act/Money Laundering Risk Assessment, or MLR, which evaluates the BSA/AML and OFAC sanctions risks associated with bank products as part of the agency’s BSA/AML/OFAC supervision program.

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DOL Announces Proposed Form 5500 Updates

The Department of Labor today issued proposed revisions to Form 5500 Annual Return/Report of Employee Benefit Plan that must be filed by all private sector employers under the Employee Retirement Income Security Act and the Internal Revenue Code.

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FinCEN Spotlights Victories Triggered by BSA Reports

As part of the Financial Crimes Enforcement Network’s ongoing efforts to demonstrate that financial institutions’ Bank Secrecy Act reporting is read and used, FinCEN today spotlighted six law enforcement cases that made effective use of BSA data to prosecute successfully.

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FHFA Announces Principal Reduction Plan

Borrowers who are seriously delinquent on loans owned or guaranteed by Fannie Mae or Freddie Mac may be eligible for a one-time principal reduction to help them avoid foreclosure and stay in their homes, the Federal Housing Finance Agency announced today.

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