News & Analysis as of September 11, 2025

Federal Reserve

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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 -

Fed Follows Earlier OCC, FDIC, and NCUA Orders Allowing Banks to Collect TIN Information from Third Parties

King & Spalding on 8/11/2025

On July 31, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an exemptive order in coordination with the Board of Governors of the Federal Reserve System (the “Fed”) that allows...more

Daily Financial Regulation Update -- Thursday December 5

Paul Hastings LLP on 12/5/2024

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

Daily Financial Regulation Update -- Wednesday October 16

Paul Hastings LLP on 10/16/2024

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

Daily Financial Regulation Update -- Friday September 20

Paul Hastings LLP on 9/20/2024

September 19, 2024- The Federal Reserve Bank of New York’s Open Market Trading Desk issued a statement announcing it intends to conduct a small value term repo operation with Primary Dealers....more

Daily Financial Regulation Update -- Wednesday August 28

Paul Hastings LLP on 8/28/2024

August 27, 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....more

FinCEN’s Proposed AML/CFT Program Rule Potentially Heralds a Change in Approach

WilmerHale on 7/25/2024

On June 28, 2024, the US Department of the Treasury’s Financial Crimes Enforcement Network announced long-anticipated proposed rules on anti-money laundering and countering the financing of terrorism program effectiveness;...more

Daily Financial Regulation Update -- Thursday, March 21, 2024

Paul Hastings LLP on 3/21/2024

March 20, 2024- The U.S. House Committee on Financial Services Subcommittee on Capital Markets held a hearing entitled, "SEC Overreach: Examining the Need for Reform." March 20, 2024- The U.S. House Committee on...more

Daily Financial Regulation Update -- Thursday, February 1, 2024

Paul Hastings LLP on 2/2/2024

Bipartisan, Bicameral Congressional Review Act resolution addressing Securities and Exchange Commission Staff Accounting Bulletin 121 Introduced- A resolution invoking the Congressional Review Act was introduced to...more

Daily Financial Regulation Update -- Friday, December 22 2023

Paul Hastings LLP on 12/22/2023

December 21, 2023- The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) took another major step in support of U.S. Government efforts to crack down on illicit finance and enhance corporate...more

Daily Financial Regulation Update -- Thursday, December 21 2023

Paul Hastings LLP on 12/22/2023

December 20, 2023- U.S. House Committee on Financial Services Chair Patrick McHenry (NC-10) and Congressman Mike Flood (NE-01) led 18 of their colleagues on a letter to Consumer Financial Protection Bureau Director Rohit...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

Daily Financial Regulation Update -- Friday, October 20, 2023

Paul Hastings LLP on 10/20/2023

October 19, 2023- The Consumer Financial Protection Bureau proposed a rule that would accelerate a shift toward open banking, where consumers would have control over data about their financial lives and would gain new...more

Banking and Consumer Regulatory Digest - October 2023

Davis Wright Tremaine LLP on 10/16/2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Daily Financial Regulation Update -- Friday, September 29, 2023

Paul Hastings LLP on 9/29/2023

September 28, 2023- The U.S. House Committee on Small Business Subcommittee on Rural Development, Energy, and Supply Chains held a hearing titled "Energy Independence: How Burdensome Energy Regulations are Crushing Small...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 -- Saturday, April 22, 2023

Paul Hastings LLP on 4/24/2023

April 21, 2023- The Financial Stability Oversight Council (Council) voted unanimously to issue for public comment a proposed analytic framework for financial stability risks. The Council also voted unanimously to issue for...more

Daily Financial Regulation Update -- Tuesday, February 28, 2023

Paul Hastings LLP on 2/28/2023

February 27, 2023- The Supreme Court of the United States granted a petition for certiorari to review the Fifth Circuit's decision in October that the statute providing funding to the Consumer Financial Protection Bureau...more

Daily Financial Regulation Update -- Thursday, January 19, 2023

Paul Hastings LLP on 1/20/2023

January 18, 2023- The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) issued an order that identifies the virtual currency exchange Bitzlato Limited (Bitzlato) as a "primary money laundering...more

Daily Financial Regulation Update -- Friday, September 30, 2022

Paul Hastings LLP on 10/3/2022

September 29, 2022- The U.S. Treasury's Financial Crimes Enforcement Network issued a final rule establishing a beneficial ownership information reporting requirement, pursuant to the bipartisan Corporate Transparency Act....more

Daily Financial Regulation Update -- Friday, September 9, 2022

Paul Hastings LLP on 9/9/2022

Hearing: Current Issues in Insurance- September 8, 2022- The U.S. Senate Committee on Banking, Housing, and Urban Affairs held a hearing entitled, "Current Issues in Insurance."...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

Nutter Bank Report: November 2020

Nutter McClennen & Fish LLP on 11/24/2020

Federal Banking Agencies Issue New Guidance on Managing the LIBOR Transition - The member agencies of the Federal Financial Institutions Examination Council (“FFIEC”) have issued joint guidance for banking organizations...more

Agencies Emphasize Risk-Based Due Diligence Approach for Charities and Nonprofits

Morgan Lewis - All Things FinReg on 11/23/2020

The Agencies issued a joint Fact Sheet that lists considerations for a risk-based approach when it comes to charities and nonprofits. While the Fact Sheet purports to not impose additional obligations on banks, it is hard to...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

Federal Banking Agencies Exempt Premium Finance Lending from BSA/AML Customer Identification Program Requirements

Orrick - Finance 20/20 on 10/28/2020

On October 9, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Federal Reserve), Federal Deposit Insurance Corporation (FDIC), and National Credit Union Administration...more

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