Office of the Comptroller of the Currency Bank Secrecy Act Compliance

News & Analysis as of

Treasury Request for Public Input on Expanding Access to Credit through Online Marketplace Lending

On July 20, the Department of the Treasury published a Notice and Request for Information (“RFI”) seeking comment on various aspects of online marketplace lending, including – - the business models and products offered...more

Comptroller Curry Addresses Senior Management’s AML Compliance Responsibilities, Criticizes “De-Risking”

On March 17, Comptroller of the Currency Thomas Curry reaffirmed his agency’s views with regard to BSA/AML compliance and the responsibilities of senior bank managers and boards of directors. Mr. Curry asserted that BSA...more

FFEIC Releases Guidance on Applicability of Consumer Protection Laws to Social Media

The Federal Financial Institutions Examination Council, which is comprised of the OCC, FRB, FDIC, NCUA, CFPB, and a state liaison committee, issued guidance addressing the applicability of federal consumer protection laws to...more

Comptroller Identifies BSA/AML Risks, Calls For Increased Information Sharing

On November 17, the Comptroller of the Currency, Thomas Curry, delivered remarks at the American Bar Association/American Bankers Association BSA/AML conference in which he identified common BSA/AML compliance risks and...more

FinCEN Joins The Enforcement Party

FinCEN’s new Enforcement Division, which was created in June of 2013, is already making its mark in the financial enforcement world. Federal regulators are focusing on compliance with Bank Secrecy Act (“BSA”) and...more

Federal Reserve Board, Illinois Regulator Issue Joint Enforcement Action Against U.S. Subsidiaries Of Foreign Bank, OCC Issues...

On May 17, the Federal Reserve Board released an April 29, 2013 written agreement between the Federal Reserve Board, an Illinois state regulator, a foreign bank, and its U.S. bank holding company subsidiary (the Holding...more

AML Enforcement – A New Era Of Compliance

Last year was the year of Bank Secrecy, sanctions and anti-Money Laundering enforcement. The HSBC settlement sparked significant controversy over the claim by the Justice Department that HSBC and other banks are “too big to...more

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