BSA

Federal Reserve Board, New York DFS Issue Joint Enforcement Action Against U.S. Branch Of Foreign Bank

On April 4, the Federal Reserve Board released a March 25, 2013 written agreement between the Federal Reserve Board, the New York Department of Financial Services, and a German bank and its U.S. branch regarding certain...more

FinCEN, Federal Reserve Board Propose Changes to Certain Bank Secrecy Act Definitions

On November 29, FinCEN and the Federal Reserve Board announced that they are seeking comments on a proposed rule to amend the definitions of “funds transfer” and “transmittal of funds” set forth in the regulations...more

FinCEN, FDIC, and DOJ Announce Coordinated Anti-Money Laundering Enforcement Action and Settlement

On November 19, FinCEN and the FDIC announced that a state bank agreed to pay a $15 million civil money penalty to resolve the bank’s “history of noncompliance” with Bank Secrecy Act (BSA) and anti-money laundering (AML)...more