Fincen exempts certain accounts from 'beneficial owner' rule


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.


How to tell if you're banking a pot business


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


House Democrat calls for hearing on banks' citizenship requirements


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


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


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


Mnuchin affirms commitment to fixing AML, beneficial-owner rules


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.


Congress passes on short-term pot banking solution


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


Bill to ease AML requirements stalls over shell-company rules


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


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


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


Relief may be in reach for bankers fed up with SARs


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


Pot banking bill advances in California


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