AML

Lower exam fees in OCC’s future: Otting

04/10/18

The comptroller said he is looking to capitalize on the industry's strong profits and high capital reserves to reduce costs and lower exam fees next year.

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5 items on OCC chief's reg relief to-do list

04/09/18

Comptroller of the Currency Joseph Otting laid out an ambitious regulatory reform agenda Monday, telling a group of community bankers that he is committed to CRA upgrades, new flexibility in BSA compliance and other measures.

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RIP GSE reform, emoji translation and Mulvaney’s CFPB plan: Top stories of the week

04/06/18

GSE reform a likely scratch from this year’s to-do list; banks’ difficulties in speaking emoji; reactions to Mick Mulvaney’s plans for the CFPB; and more.

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Banks struggle to unmask true account owners for looming AML rule

04/04/18

Efforts by financial institutions to track "beneficial ownership" data in advance of a regulatory deadline next month is complicated by the challenge of getting customers to cough up the information.

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Washington Federal, Anchor extend merger deadline

04/02/18

Washington Federal, which is working through Bank Secrecy Act issues, also allowed Anchor to consider offers from other potential buyers.

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DOJ pot crackdown has yet to hit banks

03/23/18

Attorney General Jeff Sessions made headlines in January when he tightened federal marijuana enforcement. But the good news for financial institutions looking to service the pot industry is that the rest of the government has responded with a shrug.

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Wells' OCC tipoff, crime-fighting AI and HSBC's mortgage play: Top stories of the week

03/16/18

Wells Fargo gets tipped off by OCC on investigation; HSBC is wading back into U.S. mortgage waters; a bank uses artificial intelligence to combat money laundering; and more.

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Regional banks get a boost; Kudlow considered

03/14/18

Smaller bank stocks have outperformed the big banks with the prospect of Dodd-Frank rollbacks; Trump “very strongly” pondering TV analyst for adviser role.

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AI as new tool in banks’ crime-fighting bag?

03/12/18

OCBC Bank in Singapore has seen a 35% reduction in false positives in its tests of artificial intelligence-based anti-money-laundering software. Other banks could follow its lead, though there are regulatory and customer-protection questions.

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U.S. Bancorp expects regulatory order to be lifted by end of year

03/06/18

The Minneapolis bank has been operating since October 2015 under a consent agreement that stemmed from deficiencies in its efforts to combat money laundering.

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