FinCEN

Fincen exempts certain accounts from 'beneficial owner' rule

09/10/18

The agency said it would not apply the data collection requirement for existing accounts that automatically renew or roll over, such as certificates of deposit or commercial credit cards.

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How to tell if you're banking a pot business

08/24/18

Many financial institutions are unaware that they're banking marijuana-related businesses, pot bankers and regtech experts say.

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House Democrat calls for hearing on banks' citizenship requirements

08/16/18

Rep. Emanuel Cleaver, D-Mo., says he is concerned that banks are freezing accounts of customers if they aren't providing citizenship information.

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To find a buyer, this bank had to give up pot

07/23/18

First Green Bank in Florida had to stop holding deposits for licensed marijuana sellers as a condition of making a deal.

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Mnuchin affirms commitment to fixing AML, beneficial-owner rules

07/12/18

The Treasury secretary told lawmakers that the government needs “to strike the right balance” on Bank Secrecy Act requirements while determining the best way to collect details about account holders.

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Congress passes on short-term pot banking solution

06/25/18

With more permanent fixes not yet gaining enough traction, recent attempts to clarify marijuana banking rules through appropriations are also falling flat.

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Bill to ease AML requirements stalls over shell-company rules

06/14/18

The legislation unveiled this week left out a requirement — included in an earlier version — for new companies to report their true owners.

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CFPB fines debt collector; Adyen shares nearly double on first day

06/14/18

Security Group was fined $5 million for abusive collection tactics; the Dutch payments company is now valued at nearly $16 billion.

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Relief may be in reach for bankers fed up with SARs

06/12/18

Legislation with bipartisan support would raise the threshold for reporting suspicious activity, a goal banks have long sought.

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Pot banking bill advances in California

06/01/18

California lawmakers have voted to authorize the establishment of state-chartered banks for the limited purpose of serving the marijuana industry.

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