The New York Department of Financial Services has announced the creation of a new “powerhouse” Consumer Protection and Financial Enforcement Division. ...more
The New York State Department of Financial Services (“DFS”) has issued its fifth BitLicense to date, continuing a marked effort to bring legitimacy and controls to the virtual currency (“VC”) industry, whose advantages in...more
2016 was a busy year for developments in Anti-Money Laundering (AML), the Bank Secrecy Act (BSA), the criminal money laundering statutes, forfeiture, and related issues. In part one of our year-in-review, we discuss six key...more
2/3/2017
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
BSA/AML ,
Casinos ,
Consumer Lenders ,
Customer Due Diligence (CDD) ,
FATF ,
Financial Institutions ,
FinCEN ,
Fines ,
Gambling ,
Gaming ,
Geographic Targeting Order ,
Money Laundering ,
Mortgage Lenders ,
Mortgages ,
NYDFS ,
Offshore Funds ,
Panama Papers ,
Popular ,
Real Estate Market ,
Suspicious Activity Reports (SARs) ,
Tax Evasion
The New York State Department of Financial Services (DFS) has announced that it has entered into a consent order with an online payday loan lead generator and its chief executive officer (CEO) (collectively, respondents) to...more
3/25/2016
/ Consent Order ,
Consumer Financial Products ,
Corporate Counsel ,
Data Security ,
Notification Requirements ,
NYDFS ,
Online Marketplace Lending ,
Payday Loans ,
Personally Identifiable Information ,
Popular ,
Usury
The New York Department of Financial Services has issued guidance about its new Third-Party Debt Collector and Debt Buyer Regulations in the form of Frequently Asked Questions (“FAQs”). The FAQs provide insight on the scope...more