AML

JPM settles with CFPB; CBOE looks to trade bitcoin futures

08/03/17

The bank agreed to pay $4.6 million to settle charges it didn't tell consumers why their checking account applications were rejected; Winklevoss brothers to supply bitcoin data to Chicago exchange.

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M&T Bank, four years and $400M later, released from enforcement action

07/28/17

The Buffalo, N.Y., bank has been freed from an enforcement order that required an upgrade of its anti-money-laundering compliance systems. The Fed had ordered the upgrade as a condition for approval of its acquisition of Hudson City Bancorp.

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BSA compliance costs take toll on Investors Bancorp earnings

07/28/17

The New Jersey company reported lower quarterly profit that included professional fees tied to addressing an informal order from regulators.

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‘Neither Mad Max nor Orwell’: ID startup walks a fine line

07/28/17

GlobalID stands out from scores of similar companies and projects by attempting to wed self-sovereignty with regulatory compliance. If its technology works, it could alleviate a major cost for banks.

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Raft of AML violations lands bitcoin exchange a $110M fine

07/27/17

The fine for BTC-e was the Treasury’s first action against a money-services business located in a foreign country, and the second against a virtual currency exchange.

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HSBC monitor report will remain sealed, appeals court rules

07/12/17

A monitor's report detailing HSBC's compliance with a 2012 agreement with U.S. prosecutors to fix faulty money-laundering controls isn't a judicial document and shouldn't be made public, a federal appeals court said.

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Senators ask AG Sessions to halt Choke Point

07/11/17

Despite assurances that the Department of Justice crackdown on banks' third-party relationships is ceasing, lawmakers say it is still having an impact.

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Fed official calls for Fannie, Freddie fix: DOJ in AML bank probe

07/07/17

Jerome Powell says it's “now or never” to cut the government’s role in mortgage finance; Justice Department is monitoring eight banks for suspected money laundering.

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Payday lenders score small victory in Choke Point saga

07/06/17

A judge has approved the inclusion of new payday lenders in a case seeking relief from the effects of Operation Choke Point, and denied defendants' motion for summary judgment against Advance America.

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Big banks on board with House beneficial ownership bill

06/28/17

The bill would help financial institutions with customer due diligence and identifying corporate beneficial ownership of business customers.

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