News & Analysis as of August 13, 2025

Financial Crimes

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The Federal Deposit Insurance Corporation is a United States federal agency created in 1933 in response to widespread bank failures in the 1920s and early 1930s. The FDIC's mission is to maintain stability and consumer confidence in the United States banking system by insuring deposits, monitoring the health of financial institutions and managing receiverships. less -

Federal banking agencies seek information on actions to address payments fraud

Ballard Spahr LLP on 7/10/2025

On June 20, 2025, the Office of the Comptroller of the Currency (OCC), Treasury, the Board of Governors of the Federal Reserve System (FRB), and the Federal Deposit Insurance Corporation (FDIC) announced they are seeking...more

Credibly Challenged Podcast: Interview with Ross Delston, Financial Crime Compliance Expert and Former FDIC Attorney

Mayer Brown on 5/9/2025

Matt Bisanz interviews Ross Delston, a financial crime compliance expert and former FDIC attorney. They discuss his views on the trends we should expect to see in financial crimefighting and AML compliance over the next few...more

Daily Financial Regulation Update -- Friday, November 17, 2023

Paul Hastings LLP on 11/17/2023

November 16, 2023- The Financial Crimes Enforcement Network (FinCEN) has updated its Beneficial Ownership Information FAQs to include new questions about the reporting process, reporting companies, beneficial owners,...more

FinCEN Issues $15 Million Dollar Civil Penalty Against Shinhan Bank America for Alleged Failure to Implement and Maintain...

Ballard Spahr LLP on 10/10/2023

On September 29, the Financial Crimes Enforcement Network (“FinCEN”) entered into a consent order with Shinhan Bank America (“SHBA”), which imposed a $15 million dollar civil penalty against SHBA for allegedly willfully...more

Daily Financial Regulation Update -- Friday, June 30, 2023

Paul Hastings LLP on 7/3/2023

June 29, 2023- Federal financial institution regulatory agencies today jointly issued a final policy statement on commercial real estate loan accommodations and workouts....more

Daily Financial Regulation Update -- Tuesday, November 1, 2022

Paul Hastings LLP on 11/1/2022

October 31, 2022- Securities and Exchange Commission Commissioner Caroline A. Crenshaw gave remarks at the inaugural ECGI Responsible Capitalism Summit entitled, "Moving Forward in Our Lane."...more

Daily Financial Regulation Update -- Tuesday, June 14, 2022

Paul Hastings LLP on 6/14/2022

Federal Agencies- Federal Reserve Bank of New York- Survey of Consumer Expectations: Household Spending Expectations Rise Sharply; Credit Access Perceptions and Expectations Deteriorate Further-...more

The Corporate Transparency Act

Steptoe & Johnson PLLC on 12/2/2021

The Corporate Transparency Act (CTA), included as an amendment to the Anti-Money Laundering Act of 2020, was passed by Congress this year as an effort to make it more difficult to commit “shell company” money laundering, tax...more

Agencies Request Information To Assist With BSA Laws And Regulations Compliance

Foodman CPAs & Advisors on 5/6/2021

On April 9, 2021, the federal banking regulatory agencies (the Federal Reserve, FDIC and OCC) together with FinCEN and the National Credit Union Administration issued a joint statement addressing how risk management...more

While FinCEN lacks Independent Litigating Authority, it is the Regulator for the BSA and is responsible for the administration of...

Foodman CPAs & Advisors on 11/4/2020

FinCEN issues implementing regulations that “ensure” compliance with the BSA. FinCEN delegates its examination authority to federal agencies. These federal agencies are the “Federal Functional Regulators” who supervise...more

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