AML

Dems seek details on allegation Deutsche Bank blocked Trump-linked SARs

05/20/19

Sens. Sherrod Brown, D-Ohio, and Chris Van Hollen, D-Md., called on the bank to explain a report that the private wealth management division quashed anti-money-laundering reports prepared by compliance staff.

[more]

States could solve beneficial ownership issue: OCC's Otting

05/20/19

Banks would be better able to comply with anti-money-laundering laws if all 50 states collected information on the owners of new corporations and published it in a national database, Comptroller Joseph Otting said Monday.

[more]

OCC monitoring Wells CEO search; CFPB enforcement chief to leave

05/16/19

Agency says it will vet Timothy Sloan’s successor; Eric Blankenstein, who came under fire for 2004 racist blogs, to step down.

[more]

Despite delays, beneficial ownership bill will move forward: Maloney

05/14/19

Rep. Carolyn Maloney said Tuesday that her legislation aimed at restricting anonymous shell companies could get a vote in the Financial Services Committee as early as the end of June, after consideration was postponed last week.

[more]

Wells' appeasement, U.S. Bank whistleblower suit, BBVA’s U.S. chief: Top stories of the week

05/10/19

Wells Fargo creates unit to satisfy regulatory demands; U.S. Bank employee fired after blowing whistle on sales scheme, lawsuit says; what BBVA's new U.S. CEO has on tap; and more from this week’s most-read stories.

[more]

BofA may go solo on payments processing; Trust banks’ slide

05/10/19

The bank may end its venture with First Data to work on its own; State Street and BNY Mellon's fee revenue from investor clients and stock prices are down.

[more]

Trump immigration crackdown hurting small banks on border

05/09/19

Heightened regulatory scrutiny and a slowdown in commerce have raised concerns about the viability of doing business along the U.S. Mexico border.

[more]

Congress hits new speed bump in effort to restrict shell companies

05/09/19

House lawmakers postponed a committee vote on legislation to require beneficial ownership disclosures, nearly a year after a different anti-money-laundering bill stalled over a similar provision.

[more]

Congress is closer to reforming AML, but will banks be satisfied?

05/08/19

Lawmakers are poised to advance a bill requiring that commercial customers identify their beneficial owners — taking that burden away from their financial institution — but the anti-money-laundering reform arguably most favored by banks has fallen off the radar.

[more]

Preparing banks for climate change; Swaps rules ease considered

05/08/19

The Fed is moving to prepare banks for unexpected shocks tied to weather; rules would be eased for trades between affiliates.

[more]