News & Analysis as of September 25, 2024

FinCEN › Office of Management and Budget

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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 -

Stress Test Scenarios Released for 2022

Goodwin on 2/18/2022

In This Issue. The Federal Reserve Board of Governors (Federal Reserve), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) released stress test scenarios to assess...more

Agencies Launch Digital Identity Tech Sprint

Goodwin on 1/17/2022

In This Issue. The Federal Deposit Insurance Corporation (FDIC), the FDIC Tech Lab (FDITECH) and the Financial Crimes Enforcement Network (FinCEN) launched a digital identity Tech Sprint; FinCEN published a 60-day notice to...more

OMB Announces Best Practices for Regulatory Enforcement and Adjudication

Skadden, Arps, Slate, Meagher & Flom LLP on 10/14/2020

On August 31, 2020, the Office of Information and Regulatory Affairs (OIRA), within the Office of Management and Budget (OMB), issued a memorandum to all executive departments and agencies on reforming regulatory enforcement...more

Civil Fines Jump Across Agencies Under Inflation Adjustment Act

WilmerHale on 7/14/2016

Civil fines across federal agencies have recently been increased dramatically under the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (2015 Act) (Sec. 701 of Public Law 114-74), with some more than...more

Proposed Anti-Money Laundering Regulation for Investment Advisers Passes First Hurdle, Gets OMB Approval

Dechert LLP on 8/18/2015

There has recently been speculation about a new U.S. rule that would potentially subject investment advisers to the same types of anti-money laundering (“AML”) regulations that govern banks. Now, the speculation is over....more

Financial Services Legislative and Regulatory Update -- November 11, 2013

Mintz - Public Finance Viewpoints on 11/11/2013

In This Issue: Leading the Past Week; Legislative Branch; Executive Branch; and Upcoming Hearings. Excerpt from Leading the Past Week - Last week ended with a stronger than expected jobs report at plus...more

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