On August 5, 2025, the Federal Deposit Insurance Corporation (FDIC) issued FIL-39-2025 to state that an FDIC-supervised institution can use pre-populated customer information to satisfy the requirements of the Customer...more
In February 2024, the Federal Deposit Insurance Corporation (FDIC) entered into consent orders with two banks who partner with fintechs to offer “banking as a service” (BaaS) related to safety and soundness concerns relating...more
4/12/2024
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banks ,
Consent Order ,
Customer Identification Program (CIP) ,
Enforcement Actions ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Money Laundering ,
Risk Management ,
Terrorist Financing ,
Third-Party ,
True Lender
In February 2024, the Federal Deposit Insurance Corporation (FDIC) entered into consent orders with two banks who partner with fintechs to offer “banking as a service” (BaaS) related to safety and soundness, compliance with...more
4/10/2024
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Banks ,
Consent Order ,
Customer Due Diligence (CDD) ,
Customer Identification Program (CIP) ,
FDIC ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Regulation E ,
Risk Assessment ,
Terrorist Financing Regulations ,
True Lender