News Topic: AML

Several Senate Banking Committee members from both parties are facing tough reelection challenges in a year when control of the entire chamber — and the banking policy agenda — may be up for grabs. ... Read full article

If Democrats retake both the White House and Senate in the 2020 election, analysts see threats to the industry from the appointment of new regulators and possible reversal of Trump-era deregulation. But legislation imposing new rules on financial ... Read full article

The order's removal allows the Delaware company to pursue more opportunities in its payments business. ... Read full article

Artificial intelligence and machine learning are some examples of technology available now to help combat money launderers profiting from the pandemic. ... Read full article

The company, which develops "persona-based intelligence," software counts Visa and American Express among its clients. ... Read full article

The German bank’s money laundering controls are still not up to snuff, among other problems; three Democrats say banks may have shortchanged small-business borrowers. ... Read full article

The European Union is taking another small step toward setting up a common authority to fight money laundering in the bloc, after a string of revelations over the last two years exposed fundamental flaws of its framework. ... Read full article

The administration and Congress are said to be close to adding $310 billion to the small business loan program; the department is looking at whether it can prevent banks from seizing government checks. ... Read full article

A trade group says suspending so-called beneficial owner rules would help financial institutions make more small-business loans through the Paycheck Protection Program. ... Read full article

The bank will be allowed to exceed the limit to enable it to make more small business loans; the CEOs of HSBC and StanChart are also donating part of their pay to coronavirus victim charities. ... Read full article

They have asked the Financial Crimes Enforcement Network, the chief anti-money-laundering regulator, to let them collect customer information and verify it after the loan application is processed in order to speed approvals. ... Read full article

Corporations have tapped more than $124 billion in lines in the past three weeks; rating agency says virus “could wipe out a full year of U.S. banking profits.” ... Read full article

Some banks have closed branches or restricted access and bank tech resources are being overwhelmed; bank pays a record SKr4 billion ($400 million) for issues. ... Read full article

Financial institutions’ legislative agenda was already a low priority in Congress. Lawmakers’ efforts to stabilize the economy have shifted attention even farther away from bills that would benefit the industry. ... Read full article

Bankers express confidence despite coronavirus concerns, while consumers ponder cash needs; U.K. will hold off unloading its 62% stake in bank. ... Read full article

The company said it expects to enter into the order with the FDIC and its state regulator later this month. ... Read full article

Banks make emergency preparations as HSBC deals with confirmed case; the changes simplify regulations without posing additional systemic risks, the Fed says. ... Read full article

The disease could lead to less lending business and more loan defaults; Sergio Ermotti will join the insurance company as chairman in 2021. ... Read full article