KYC

Senate override of Trump veto clears way for shell-company reform

01/02/21

Congress's enactment of the defense spending bill opposed by the White House removes the final hurdle for a key anti-money-laundering provision.

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House passes AML reforms with veto-proof majority

12/09/20

A defense spending package includes a measure requiring new businesses to report their beneficial owners directly to the Financial Crimes Enforcement Network, shifting the burden away from banks.

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Congress about to relieve banks of a key AML burden

11/20/20

Banks are responsible for reporting their business customers' beneficial owners, but a bill that would shift that anti-money-laundering duty to businesses themselves has been added to a must-pass defense spending package.

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Rep. Maloney fights to hold seat in New York

06/24/20

A key Democrat on the House Financial Services Committee, Rep. Carolyn Maloney has a slim lead over a primary challenger, Suraj Patel, a progressive political activist and New York University Professor.

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Community banks call for AML relief in next coronavirus aid package

04/14/20

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

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Banks' digital outreach efforts amid coronavirus crisis fall short

04/06/20

Few lenders are finding creative ways to provide much-needed financial advice and emergency services online.

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Bankers to get help with spotting human trafficking

01/30/20

The American Bankers Association said it’s offering a new online course because of increased demand by members for training tailored to banking.

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‘Fintech as a service’ provider Rapyd becomes Durable Capital’s first investment

12/03/19

Former T. Rowe Price portfolio manager Henry Ellenbogen is making Rapyd his first bet.

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Is it now or never for AML reform?

11/28/19

The 2020 elections and a potential new chair of the Senate Banking Committee in the next Congress could put a deadline on passage of a bill to ease a key anti-money-laundering requirement for banks.

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Shell-company bill drives wedge between banking, small business

10/28/19

Beneficial-ownership legislation is within the banking industry’s reach, but the prospect of new regulatory burdens for small businesses is forcing lawmakers to choose sides.

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