Notices and information from other, related federal agencies of interest (FinCEN, etc.)
Financial institutions would be “explicitly” required to adopt anti-money laundering and countering the financing of terrorism (AML/CFT) programs that are effective, risk-based, and reasonably designed under rules proposed Friday by the Treasury’s financial crimes arm. […]
More than 15% of active FBI investigations in fiscal year (FY) 2023 were linked to anti-money laundering tools such as currency transaction reports (CTRs) and suspicious activity reports (SARs), the Treasury Department’s financial crimes enforcement […]
Risks of artificial intelligence is a subject the federal regulator wants its credit unions to weigh in on, according to a release issued by the agency Friday. The National Credit Union Administration (NCUA) “encouraged” credit […]
Revisions to all three versions of bank call reports were finalized and published Wednesday by the three federal banking agencies, affecting reporting of credit losses, troubled debt restructuring, internet website addresses, and past-due loans, the […]
Key vulnerabilities that may impair nonbank mortgage servicers’ ability to carry out critical functions, and could amplify shocks to the mortgage market leading borrowers to miss payments and cause losses to secondary market giants, are […]
The panel of state regulators that advises the umbrella group for federal financial institution regulators has named its chairman for the next year and added a new member, the panel said Thursday. The State Liaison […]
Fraud schemes related to the use of counterfeit U.S. passport cards has prompted a notice to financial institutions from the Treasury’s financial crimes enforcement unit, the agency said in a notice issued Monday. According to […]
This article was updated April 1, 2024. Should banks be allowed to collect just a piece of an individual’s social security number prior to account opening to satisfy a key obligation under Bank Secrecy Act […]
Modifications to terminology related to the current expected credit losses (CECL) accounting methodology are reflected in changes to the Uniform Bank Performance Report (UBPR) filed by banks and credit unions for the first quarter, the […]
A broker-dealer must comply with certain requirements of customer identification program (CIP) and customer due diligence (CDD) regulations when distributing to a beneficiary of an individual retirement account (IRA) funds inherited as part of a […]
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