Last week, the DFS announced an enforcement action and charges against the NY Branch of Habib Bank, a Pakistani bank that had been doing business in NY for almost 40 years....more
9/2/2017
/ Anti-Money Laundering ,
Banks ,
Cease and Desist ,
Civil Monetary Penalty ,
Consent Order ,
Department of Financial Services ,
Enforcement Actions ,
Foreign Banks ,
NYDFS ,
Office of Foreign Assets Control (OFAC) ,
Pakistan ,
Terrorist Financing
Yesterday the Fed published a proposed guidance document for its expectations for board of directors of banks. The release only applies to the boards of banks with over $50 billion in consolidated assets, but the intent of...more
At the end of last week, the Fed and the other banking agencies issued an interpretation that applied to investments in certain foreign funds by foreign banking organizations that are subject to the Volcker rule. Such banks...more