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Banking Sector BSA/AML Financial Services Industry

Orrick, Herrington & Sutcliffe LLP

Congressional Research Service report highlights de-banking risks

On January 29, the Congressional Research Service (CRS) released a report on the challenges banks may face in providing services to certain individuals and businesses. The CRS’s report was based on the perception that an...more

Bradley Arant Boult Cummings LLP

$3B TD Bank AML Settlement Is A Wake-Up Call For All Banks

On Oct. 10, Attorney General Merrick Garland announced that TD Bank pled guilty to conspiracy to commit money laundering and agreed to pay over $1.8 billion in penalties to resolve the U.S. Department of Justice's...more

Troutman Pepper Locke

Navigating Bank-Fintech Partnerships: Avoiding Common Pitfalls — The Consumer Finance Podcast

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In this episode of The Consumer Finance Podcast, Chris Willis discusses the complexities and potential pitfalls of bank-fintech partnerships. Joined by colleagues Alexandra Steinberg Barrage, Matthew Bornfreund, and Jesse...more

Sheppard Mullin Richter & Hampton LLP

South Dakota Lenders on Tight Deadline for BSA/AML Compliance

On January 12, South Dakota’s Division of Banking issued a mandate setting March 31, 2024 as the deadline for all South Dakota licensed money lenders and non-residential mortgage brokers to comply with their Bank Secrecy...more

Venable LLP

Chalk Talk: OCC Re-Thinks Business Combinations

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The OCC recently released a proposed rule and policy statement on business combinations involving national banks and federal savings associations (banks), which includes mergers, acquisitions of assets, and assumptions of...more

Holland & Knight LLP

[Webinar] Financial Services Regulatory Crystal Ball Outlook for 2024 - January 24th, 12:00 pm - 1:00 pm EST

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Please join Holland & Knight's Financial Services Regulatory Team for a roundtable discussion on what to expect on the financial services landscape in 2024. Our attorneys will present on a wide range of topics in a "3-Minute...more

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2023

A recent OCC report identified key issues facing the federal banking system, including increasing credit risk due to higher interest rates, increasing risk in commercial real estate lending, prolonged inflation, declining...more

Troutman Pepper Locke

Practical Lessons Learned Regarding the Bank Secrecy Act and Anti-Money Laundering for Financial Institutions - The Consumer...

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Join Troutman Pepper Partner Chris Willis and fellow Partner Matthew Orso as they discuss the Bank Secrecy Act, anti-money laundering, and countering the financing of terrorism rules, as they pertain to financial institutions...more

Venable LLP

All Things Seen and Unseen: Bank Supervision and Enforcement After the Spring 2023 Bank Failures

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Besides being a shock to the market, the 2023 bank failures caused many to ask whether the federal banking agencies had done enough to prevent them. Precisely what the agencies should have done, or should do moving forward,...more

J.S. Held

Risky Business: How Fintech Firms Can Build Better AML and Sanctions Risk Assessments

J.S. Held on

The year 2023 promises to be exciting for Fintech. On the upside, the web 3.0 economy is poised for significant growth as decentralization favors creatives and community with its lower costs and lower barriers to entry...more

Nutter McClennen & Fish LLP

Nutter Bank Report: December 2022

The Federal Reserve has adopted a final rule that provides benchmark replacement rates based on SOFR (Secured Overnight Financing Rate) for contracts governed by U.S. law that reference the overnight and one-, three-, six-,...more

Oberheiden P.C.

AML Enforcement

Oberheiden P.C. on

Federal law enforcement takes money laundering and other suspicious transactions extremely seriously. Unfortunately, this does not mean that legal scrutiny is confined to the criminal actors and organizations that launder...more

Sheppard Mullin Richter & Hampton LLP

OCC Highlights Focus on Crypto and Bank-FinTech Partnerships, Anticipates Stricter Scrutiny Going Forward

On September 7, Acting Comptroller of the Currency, Michael Hsu, discussed the long-term threats to trust in banking in remarks at the TCH + BPI Annual Conference. Hsu provided updates on key priorities at the OCC, including...more

Venable LLP

Marijuana Banking in 2022: Lessons Learned and Best Practices

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​​​​​​​As we pass the halfway mark of 2022, it's a good time to reflect on what has happened, or not happened, with respect to the legal framework for the provision of financial services to marijuana-related businesses...more

Skadden, Arps, Slate, Meagher & Flom LLP

NY Department of Financial Services Outlines How Blockchain Analytics Should Be Used for Compliance

On April 28, 2022, the New York State Department of Financial Services (DFS) issued guidance on the use of blockchain analytics for virtual currency businesses licensed under 23 NYCRR part 200 (also known as a BitLicense) or...more

Ballard Spahr LLP

OCC Targets BSA/AML Compliance by Anchorage Digital Bank – Only 15 Months After Granting National Trust Bank Charter to the Crypto...

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The Office of the Comptroller of the Currency (“OCC”) entered into a Consent Order (available here) with Anchorage Digital Bank (“Anchorage”), which requires Anchorage to create a compliance committee and take steps to...more

American Conference Institute (ACI)

[Virtual Conference] Prepaid Accounts Compliance - February 23rd - 24th, 8:45 am - 4:00 pm EST

22nd National Forum on Prepaid Accounts Compliance is going Virtual! The conference will take place on February 22—24, 2022 (EST) via an interactive online platform. Formerly ACI’s Prepaid Card Compliance Forum, the evolved...more

Goodwin

FinCEN Issues Proposed Rule for Beneficial Ownership Information Reporting Requirements

Goodwin on

In This Issue. The Financial Crimes Enforcement Network (FinCEN) announced (1) a notice of proposed rulemaking for beneficial ownership information reporting requirements and (2) a regulatory process for new real estate...more

American Conference Institute (ACI)

[Event] 15th Flagship Conference on U.S. Economic Sanctions Enforcement and Compliance - December 7th - 8th, Washington, DC

LIVE and IN-PERSON ACI’s Flagship Conference in December! ACI’s 15th Flagship Conference on U.S. Economic Sanctions Enforcement and Compliance is North America’s largest and most comprehensive conference on economic...more

American Conference Institute (ACI)

[Event] London Forum on Global Economic Sanctions - November 17th - 18th, London, United Kingdom

Practical Guidance to Staying Compliant with Multiple Regimes - 10th London Forum on Global Economic Sanctions will return on November 17-18, 2021, IN PERSON! This program will provide you with all the current...more

Goodwin

House Votes to Repeal OCC True Lender Rule

Goodwin on

In This Issue. The House of Representatives voted to pass a Congressional Review Act resolution repealing the Office of the Comptroller of the Currency’s (OCC) “true lender” rule; the Consumer Financial Protection Bureau...more

Perkins Coie

Fintech Legal Report - July 2021

Perkins Coie on

President Biden Issues an Executive Order on Competition with Implications for Financial Institutions - On July 9, 2021, President Biden issued an Executive Order on Promoting Competition in the American Economy. The...more

American Conference Institute (ACI)

[Virtual Conference] Navigating Russia Sanctions Complexities - September 27th, 10:00 am - 5:00 pm EDT

Unravel the multiple layers of primary and secondary Russia Sanctions and strengthen your analytical decision-making process. The Russia sanctions landscape continues to evolve in many significant ways. ACI’s 4th...more

Goodwin

Supreme Court Decision Empowers President Biden to Replace Director of FHFA

Goodwin on

In This Issue. In a move that gives him the opportunity to put his stamp on housing policy and the potential overhaul of Fannie Mae and Freddie Mac, President Biden replaced the Director of the Federal Housing Finance Agency...more

Clark Hill PLC

Credit Eco To Go Podcast: “You are either in front of the dragon, or behind the dragon”

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On this episode of the Credit Eco To Go podcast, Joann Needleman speaks with Todd Kleperis. Todd has spent his life taking risks. From military veteran to Harvard University, Todd never shied away from a challenge. It's no...more

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