News & Analysis as of

FinCEN › Federal Deposit Insurance Corporation

The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of... more +
The Financial Crimes Enforcement Network (FinCEN) is a bureau of the U.S. Department of the Treasury charged with detecting and combatting illegal activity within the financial system. FinCEN detects evidence of money laundering, terrorist financing and other financial crimes by collecting, monitoring, and analyzing financial transaction data. Such data is disseminated to both domestic and international law enforcement agencies. less -
Ballard Spahr LLP

Federal banking agencies seek information on actions to address payments fraud

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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

Orrick, Herrington & Sutcliffe LLP

Agencies allow banks to access tax ID numbers from third parties

Orrick, Herrington & Sutcliffe LLP on

On June 27, the OCC, FDIC and NCUA, with the concurrence of FinCEN, granted an exemption allowing banks to use a third party source to obtain customer tax identification numbers (TIN) for customers before opening an account....more

Ballard Spahr LLP

Financial institutions may rely on third parties for Social Security, Taxpayer Identification Numbers

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Banks and credit unions may now rely on third parties to provide a consumer’s Social Security or Taxpayer Identification Number, according to an order issued by the FDIC, OCC and the NCUA with the consent of the Financial...more

Nutter McClennen & Fish LLP

Nutter Bank Report: June 2025

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The Federal Reserve has announced that the agency will no longer assess reputational risk when examining banks’ risk management processes. According to the June 23 announcement, the Federal Reserve has already begun reviewing...more

Troutman Pepper Locke

Federal Agencies Issue Order Granting Exemption for Financial Institutions on TIN Collection

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The Office of the Comptroller of the Currency (OCC), alongside the Federal Deposit Insurance Corporation (FDIC) and the National Credit Union Administration (NCUA) (collectively, the agencies), with concurrence from the...more

Cadwalader, Wickersham & Taft LLP

Operation and Structure of the GENIUS Act of 2025 on Payment Stablecoins

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The Guiding and Establishing National Innovation for U.S. Stablecoins Act of 2025 (the “GENIUS Act” and the “Act”) establishes a regulatory infrastructure for defining, managing, custodying and issuing a specific kind of...more

Mayer Brown

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

Mayer Brown on

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

Morrison & Foerster LLP

FinReg Currents - Week 10

Morrison & Foerster LLP on

On March 26, 2025, the House Financial Services Committee Subcommittee on Financial Institutions held a hearing, entitled “A New Era for the CFPB: Balancing Power and Reprioritizing Consumer Protections.”...more

Troutman Pepper Locke

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – February 2025 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Orrick, Herrington & Sutcliffe LLP

FDIC Acting Chairman Hill supports flexibility for customer identification program requirements

Orrick, Herrington & Sutcliffe LLP on

On February 7, the FDIC’s Acting Chairman Travis Hill released a letter to FinCEN Director Andrea Gacki conveying support for updates to the Customer Identification Program requirements to align with modern practices. ...more

Troutman Pepper Locke

FDIC Acting Chairman Hill Supports Modernizing Customer Identification Program Requirements

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In a recent letter to Andrea Gacki, Director of the Financial Crimes Enforcement Network (FinCEN), Federal Deposit Insurance Corporation (FDIC) Acting Chairman Travis Hill expressed his support for updating the Customer...more

Latham & Watkins LLP

Regulatory Reversals: Political Transitions and the Congressional Review Act

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A Republican Congress and the incoming Trump administration may employ the CRA to quickly overturn recent rules that faced heavy criticism from the financial services industry....more

K2 Integrity

Fiat Ramps Unlocked: Practical Tips For Banks And Crypto Firms

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Ask any centralized cryptocurrency firm to name one of their biggest priorities or challenges—and then count the number of times they mention bank partnerships. For crypto firms, the loss of, or failure to acquire, a bank...more

Bressler, Amery & Ross, P.C.

Interagency Statement on Elder Financial Exploitation

Bressler, Amery & Ross, P.C. on

On December 4, an Interagency Statement on Elder Financial Exploitation (the “Interagency Statement”) was issued by the Board of Governors of the Federal Reserve System (FRB), Consumer Financial Protection Bureau (CFPB),...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday December 12

Paul Hastings LLP on

December 11, 2024- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled “Protecting Workers’ Money and Fighting for the Dignity of Work.”...more

Orrick, Herrington & Sutcliffe LLP

Agencies issue guidance on elder financial exploitation

Orrick, Herrington & Sutcliffe LLP on

On December 4, the CFPB, the FDIC, the Fed, FINCEN, the NCUA, the OCC and state financial regulators issued a statement titled the “Interagency Statement on Elder Financial Exploitation” to provide supervised financial...more

Troutman Pepper Locke

Federal and State Financial Agencies Issue Guidance on Elder Financial Exploitation

Troutman Pepper Locke on

Earlier this week, the Board of Governors of the Federal Reserve System (FRB), Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Financial Crimes Enforcement Network (FinCEN), National...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday December 5

Paul Hastings LLP on

December 4, 2024- The U.S. House Committee on Financial Services held a hearing entitled “Innovation Revolution: How Technology is Shaping the Future of Finance.”...more

Nutter McClennen & Fish LLP

Nutter Bank Report: November 2024

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The CFPB has adopted a final rule to extend its oversight to the largest nonbank providers of digital consumer payment applications, including those that enable transfers from deposit accounts held at banks and other insured...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday November 21

Paul Hastings LLP on

November 20, 2024 - The U.S. House Committee on Financial Services held a hearing entitled, “Oversight of Prudential Regulators.” The Committee heard testimony from: The Honorable Michael Barr, Vice Chairman for...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday November 13

Paul Hastings LLP on

November 12, 2024 - The Federal Reserve Board published the results of the Senior Loan Officer Opinion Survey on Bank Lending Practices for October 2024. November 12, 2024- The Federal Reserve Board published a working...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday October 16

Paul Hastings LLP on

October 15, 2024 - The Federal Reserve Board released the minutes from its recent meetings to review and determine the discount rates provided to depository institutions through the discount window. The minutes cover the...more

Paul Hastings LLP

Daily Financial Regulation Update -- Thursday September 5

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September 4, 2024- The Federal Reserve Bank of New York published a Liberty Street Economics blog post entitled “AI and the Labor Market: Will Firms Hire, Fire, or Retrain?” September 4, 2024- The Bank Policy Institute...more

DLA Piper

Blockchain and Digital Assets News and Trends - August 2024

DLA Piper on

This monthly bulletin is designed to help companies identify important legal developments governing the use and acceptance of blockchain technology, smart contracts, and digital assets....more

Paul Hastings LLP

Daily Financial Regulation Update -- Friday August 9

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August 8, 2024- The Federal Reserve and U.S. Treasury did not intervene in foreign exchange markets during the April – June 2024 quarter, the Federal Reserve Bank of New York said in its quarterly report to the U.S....more

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