Notices and information from other, related federal agencies of interest (FinCEN, etc.)
How the “customer due diligence” rule (which took effect for compliance on Friday) advances the effectiveness of anti-money laundering and combatting the financing of terrorism is the focus of a Wednesday hearing in the House. […]
Premium finance lending products that allow for cash refunds have been extended “exceptive relief” from the application of the “beneficial ownership requirements” under customer due diligence rules that took effect Friday, the Financial Crimes Enforcement […]
There may be a hearing ahead, but the Treasury Financial Crimes Enforcement Network (FinCEN) rule requiring financial institutions to verify the identity of beneficial owners at account opening takes effect today. So says a reminder […]
A second hearing on the “customer due diligence” (CDD) rule, particularly the “beneficial ownership” requirements – compliance for which are required by Friday – has been scheduled by a House committee for next week. The […]
The $15.4 billion package of budget rescissions sent to Congress this week would rescind $22.8 million available for awards to banks supporting community development financial institutions (CDFIs) and another $151.3 million for a CDFI program […]
The House, voting 234 to 175, on Tuesday adopted a Senate-passed resolution to repeal 2013 guidance from the Bureau of Consumer Financial Protection (BCFP) on indirect auto lenders’ compliance with federal fair lending requirements. The […]
Currency transaction reports (CTRs) will transition to a new format June 1, according to a reminder issued Tuesday by the Financial Crimes Enforcement Network (FinCEN) for batch CTR e-filers. Financial institutions that batch file must […]
Financial institution “regulatory relief” will proceed on two fronts in the House this month – including action on legislation already approved by the Senate, and an additional separate piece of legislation, leaders said Tuesday. In […]
Total originated home loans fell by about 12.4% (or more than 1 million) in 2017 from the previous year, according to mortgage lending transactions data released Monday by federal financial institution regulators. The Federal Financial […]
The federal panel responsible for oversight of state appraisal regulatory programs denied a request by TriStar Bank, Dickson, Tenn., for a one-year waiver from a requirement to use certified appraisers for real estate-related loans in […]
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