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


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


House passes AML reforms with veto-proof majority


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.


Congress about to relieve banks of a key AML burden


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.


Rep. Maloney fights to hold seat in New York


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.


Community banks call for AML relief in next coronavirus aid package


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


Banks' digital outreach efforts amid coronavirus crisis fall short


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


Bankers to get help with spotting human trafficking


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


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


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


Is it now or never for AML reform?


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.


Shell-company bill drives wedge between banking, small business


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.