News & Analysis as of September 23, 2024

FinCEN › Federal Bank Regulatory Agencies

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The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -

Daily Financial Regulation Update -- Friday, December 22 2023

Paul Hastings LLP on 12/22/2023

December 21, 2023- The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) took another major step in support of U.S. Government efforts to crack down on illicit finance and enhance corporate...more

CFPB Grants No-Action Letter for Proposed Small-Dollar Credit Product

Goodwin on 11/12/2020

In the News. The Consumer Financial Protection Bureau (CFPB) granted a no-action letter (NAL) regarding a proposed small-dollar credit product and sought comment on the CFPB’s plan to study how consumers locate, comprehend...more

Federal Banking Agencies Exempt Premium Finance Lending from BSA/AML Customer Identification Program Requirements

Orrick - Finance 20/20 on 10/28/2020

On October 9, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and National Credit Union Administration...more

FinCEN and US Federal Banking Agencies Clarify Risk-Based Obligations on Politically Exposed Persons

White & Case LLP on 9/24/2020

The US Financial Crimes Enforcement Network (FinCEN) and the federal banking agencies (Agencies)1 issued a joint statement on August 21, 2020, regarding Bank Secrecy Act/anti-money laundering (AML) regulatory requirements for...more

Federal banking agencies issue joint statement on enforcement of BSA/AML requirements; FinCEN follows with its own statement

Ballard Spahr LLP on 8/27/2020

Regulators Provide Greater Transparency into BSA/AML Enforcement Process. On August 13, 2020, the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, and Office of the...more

The Banking of Cannabis and Hemp-Related Customers: An Update

Ballard Spahr LLP on 7/8/2020

We are really pleased to presenting on July 9, 2020 to the National Association of Federally-Insured Credit Unions (“NAFCU”) on banking issues relating to cannabis. The cannabis and hemp industry continues to pose a...more

Federal Banking Agencies Open a Pathway to the Provision of Banking Services to Hemp-Related Businesses

White & Case LLP on 12/11/2019

On December 3, 2019, in a rare public statement regarding the provision of banking services to cannabis- or hemp-related businesses, the Federal Banking Agencies, including the Board of Governors of the Federal Reserve...more

Enhancing Transparency in the Agencies’ Approach to BSA/AML Examinations

Moore & Van Allen PLLC on 8/6/2019

Last month the Financial Crimes Enforcement Network (FinCEN) and the federal bank regulators issued a Joint Statement aimed at improving transparency into their risk-focused examination and supervision of banks’ compliance...more

Financial Services Weekly Roundup - September 2018 #3

Goodwin on 9/27/2018

Editor's Note - In This Issue. The Board of Governors of the Federal Reserve System (Federal Reserve), the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation (together, the Federal...more

Financial Regulatory Developments Focus - November 2016

A&O Shearman on 11/21/2016

In this newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset managers and...more

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FinCEN › Federal Bank Regulatory Agencies

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