doj

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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U.S. Bancorp, a big bank untouched by scandal — until now

02/15/18

The bank’s unsullied image took a hit when it admitted to misleading regulators regarding its efforts to combat money laundering.

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Regulators fine U.S. Bank more than $600M for AML errors

02/15/18

U.S. Bancorp. has agreed to pay $613 million in penalties to state and federal authorities for violations of the Bank Secrecy Act and a faulty anti-money-laundering program.

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MainSource selling branches to German American to satisfy DOJ order

02/13/18

The Justice Department required the sales before signing off on MainSource's pending sale to First Financial in Cincinnati.

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Rabobank’s AML problems result in huge fines

02/07/18

The U.S. banking arm of the Dutch lender Rabobank has forfeited nearly $370 million for anti-money laundering deficiencies that authorities say allowed untraceable money transfers on behalf of criminals.

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Pot banking crackdown is a step backward

01/23/18

Retracting an Obama administration policy that shielded banks servicing marijuana companies threatens financial firms and makes the pot industry too reliant on cash.

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Regulators grapple with fallout from Justice Dept. U-turn on pot

01/18/18

Attorney General Jeff Sessions did not keep the rest of Washington apprised of his plan to rescind an Obama-era memo on pot. Now Fincen and other federal banking agencies are dealing with the backlash from that decision.

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Banks shouldn’t give up on pot banking just yet

01/18/18

Financial institutions are facing considerable uncertainty following the Department of Justice’s decision to rescind Obama-era guidance for the legal marijuana business, but there are steps they can take to reduce their risks.

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Cryptocurrency a 'very critical issue': Banking panel chair

01/17/18

As senators weigh anti-money-laundering reforms, they reiterated their desire to include cryptocurrencies as part of legislative discussions.

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Trump administration must back CFPB action against PHH, top Democrat says

01/04/18

Sen. Sherrod Brown called on the Trump administration to support the Consumer Financial Protection Bureau's enforcement action against PHH Corp., which agreed to a $45 million settlement this week related to foreclosure abuses.

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