AML

A cautionary tale of open banking

01/06/20

Granting a third party access to a bank's systems in exchange for more advanced technology can help prevent fraud, but it can also attract cyberattacks.

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The 2020 legislative docket: AML reform, GSEs, Dems v. regulators

01/01/20

The window to change beneficial-ownership rules or pass other measures will be narrow, but some legislative efforts from 2019 will carry over and House Democrats will resume inquiries of certain industry CEOs and Trump-appointed regulators.

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Crapo delivers crushing blow to pot banking

12/18/19

The Senate Banking Committee chairman said he opposed a House bill that would give financial institutions legal cover to serve cannabis businesses.

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Six living wills have ‘shortcomings’; PE firms buy stake in Amex unit

12/18/19

Regulators said the living wills of six banks — not Goldman or JPM — need tweaking; the investment values the global business travel unit at $5 billion.

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Fintech, bank conflict heats up; Deutsche plans bonus cuts

12/16/19

Fintechs want access to customers’ financial data, but banks are resisting, on security concerns; Deutsche Bank may cut bonus pool 20% after 14% drop last year.

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U.S. Bank, JPMorgan freed from BSA enforcement actions

12/12/19

The regulatory action from the Federal Reserve was one of two U.S. Bank received for its dealings with a payday lender who was later convicted of fraud.

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Money laundering battle drives Japan banks to JPMorgan’s network

12/10/19

JPMorgan Chase & Co.’s blockchain-based information network for payments is drawing the greatest interest in Japan, a country long blamed for weak measures against money laundering.

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Fighting terrorism while helping immigrants a tricky balancing act

12/10/19

The leader of a new Compliance and Payments Task Force dives into how it will address emerging issues of counterterrorism financing in the digital age.

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Goldman's small world; Bitcoin’s woes go beyond price

12/09/19

The bank may extend advisory service to clients with as little as $5,000 to invest; trading of the cryptocurrency has plunged.

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Credit card issuers bulk up; Diversity still a challenge for banks

12/06/19

Issuers have started adding metal to their credit cards; banks have been “slow” to add diversity in executive ranks, filings suggest.

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