Annunzio-Wylie Anti-Money Laundering Act

News & Analysis as of

Small Local Bank Agrees to $4.5 Million Penalty for Ineffective Anti-Money Laundering Program and Structured Transactions

On June 15, multiple federal agencies issued a $4.5 million penalty against a local bank that admitted to failing to maintain an effective anti-money laundering program. The coordinated enforcement action by multiple agencies...more

FFIEC Releases Revised BSA/AML Examination Manual

On November 26, the Federal Financial Institutions Examination Council (FFIEC) released the revised Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual. ...more

The Supreme Court Declines to Address Whether Financial Institutions Are Entitled to Unqualified Immunity from Claims Arising from...

Last month, the U.S. Supreme Court denied the Petition for a Writ of Certiorari in Cummings v. Doughty, thereby leaving open a split among circuit courts regarding the scope of the immunity financial institutions that file...more

U.S. Supreme Court Passes on Two Banking Cases

This week the Supreme Court denied petitions for a writ of certiorari in two banking-related appeals. In Cummings v. Doughty, No. 12-351, the petitioners, a bank and its CEO, asked the Supreme Court to determine whether the...more

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