In a significant move, on June 27, 2025 the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an order granting banks and their subsidiaries an exemption from the Customer Identification...more
7/10/2025
/ Banks ,
Customer Identification Program (CIP) ,
Data Collection ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Patriot Act ,
Popular ,
Regulatory Reform ,
Regulatory Requirements ,
Taxpayer Identification Number ,
Third-Party ,
U.S. Treasury
The next installment in McGlinchey’s Deep Dive into Bank Partnerships Series features an overview of depository services, featuring insights from our attorneys Rachael Aspery, Brian Fink, and Aaron Kouhoupt. They explore key...more
The U.S. Drug Enforcement Agency’s proposal to reschedule cannabis from a Schedule I to a Schedule III drug under the Controlled Substances Act (CSA) has generated considerable buzz across business sectors, including for the...more
8/28/2024
/ Agribusiness ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banks ,
Controlled Substances Act ,
Credit Unions ,
DEA ,
Decriminalization of Marijuana ,
Financial Institutions ,
FinCEN ,
Marijuana Related Businesses ,
Popular
Bank partnership programs have grown exponentially in recent years as a collaborative framework for banks and non-depository institutions to offer innovative and unique products to their customers.
Navigating the modern...more
Proponents of marijuana reform have had cause for celebration in 2023. Despite challenges facing the industry, the political and social momentum surrounding cannabis is ticking upward.
Most recently, the marijuana industry...more
10/18/2023
/ Agribusiness ,
Banks ,
Cannabis-Related Businesses (CRBs) ,
Controlled Substances Act ,
Credit Unions ,
DEA ,
Decriminalization of Marijuana ,
Financial Institutions ,
Financial Services Industry ,
Food and Drug Administration (FDA) ,
Insurance Industry ,
Lenders ,
Popular ,
Proposed Legislation ,
Safe Harbors ,
Senate Banking Committee
The world of payments has grown exponentially in recent years. The Consumer Financial Protection Bureau (CFPB) has continued its activity around Unfair or Deceptive Acts or Practices (UDAP), fees, and what the CFPB calls dark...more
7/31/2023
/ Banking Sector ,
Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Fees ,
Financial Institutions ,
Financial Services Industry ,
Money Transmitter ,
Payment Processors ,
Payment Systems ,
UDAP ,
Unfair or Deceptive Trade Practices
The next installment in McGlinchey’s Deep Dive Series covering all things privacy is a webinar featuring attorneys from McGlinchey’s Financial Institutions Compliance team....more
3/16/2023
/ Banking Sector ,
Banks ,
Consumer Information ,
Consumer Privacy Rights ,
Data Privacy ,
Data Use Policies ,
Data-Sharing ,
Financial Institutions ,
Partnerships ,
Privacy Laws ,
Webinars
The world of decentralized finance, blockchains, virtual and cryptocurrency have grown exponentially in recent years. Many financial institutions are looking to enter or expand their operations in the digital economy, but the...more