AML

House lawmakers square off over Facebook's crypto plans

07/17/19

Democrats called on the social media company to halt its Libra project, while Republicans said Congress should keep the door open to innovation.

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PayPal-backed blockchain aims to help banks verify digital IDs

07/16/19

A new project backed by the government of Luxembourg could ultimately be influential in the U.S., where banks have been slow to develop a shared platform for digital identities.

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Facebook won’t launch crypto service until regulators satisfied, exec says

07/15/19

David Marcus, who oversees Facebook’s digital wallet, plans to tell Congress that the company will roll out Libra only after it has "received appropriate approvals.”

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Libra takes a beating on Capitol Hill (again)

07/11/19

For the second straight day, concerns about Facebook's cryptocurrency project dominated lawmakers’ questioning of Federal Reserve Chairman Jerome Powell.

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Deutsche tied to 1MDB; Powell's Libra comments resonate

07/11/19

The Justice Department is investigating the bank for possible money laundering violations; the Fed chair says Facebook’s plan raises “serious concerns.”

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Powell throws down gauntlet on Facebook’s Libra project

07/10/19

The Federal Reserve chairman said the social media giant’s cryptocurrency plan “cannot go forward” without improved regulatory controls.

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Will lower rates bring tougher regulation?; HELOC-backeds return

06/25/19

Dallas Fed chief says lower interest rates may require stricter rules to ward off riskier lending; after financial crisis, debt backed by HELOCs disappeared.

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State regulators expand multistate licensing process for fintechs

06/24/19

Nearly half the nation's state regulators have agreed to a new multistate licensing business for money servicers, including fintechs.

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OCC hits Michigan bank with order tied to Bank Secrecy Act compliance

06/24/19

Sterling Bancorp must enhance its BSA policies and hire an outside firm to review its account activity.

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Senators seek to reassure small businesses about AML bill

06/20/19

While a bill to require firms to identify their owners has gained bipartisan support, some small companies argue it is burdensome and would subject them to harsh penalties.

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