AML

The Financial Technology Protection Act would create a task force to stop terrorists and criminals from using digital assets, as lawmakers push for stronger oversight for emerging technologies. 

The law, set to go into effect later this year, was introduced to prevent potential money laundering in all-cash purchases made by companies or trusts.

In a speech at the American Bankers Association Washington Summit Wednesday morning, Treasury Secretary Scott Bessent downplayed economic risks from tariffs, floated capital reforms and urged regulatory relief for community banks.

In its semiannual supervision and regulation report, the Federal Reserve flagged climbing loan delinquencies and a rising number of large bank citations for governance and controls.

New rules from Treasury's Financial Crimes Enforcement Network will mandate reporting for non-financed real estate transfers and expand anti-money-laundering requirements for investment advisors.

If the GOP can hold its majority in the chamber, Sen. Pat Toomey, R-Pa., will likely become the panel's chairman. His ardent support for free-market principles could set up partisan clashes with Democrats over pandemic relief, money laundering rules and more.

The future of Fannie Mae and Freddie Mac, the Fed’s supervisory regime for the biggest financial institutions, reform of the Community Reinvestment Act and a host of other industry-related issues are on the ballot this November.

Thomas O'Brien will take the helm at Sterling Bancorp, which is dealing with internal control issues and probes by the OCC and Justice Department into its mortgage operations.

Several Senate Banking Committee members from both parties are facing tough reelection challenges in a year when control of the entire chamber — and the banking policy agenda — may be up for grabs.

Nearly half the nation's state regulators have agreed to a new multistate licensing business for money servicers, including fintechs.

Bills to fix the National Flood Insurance Program and combat the money-laundering risks from shell companies enjoyed bipartisan support during a House Financial Services Committee debate.

Executives urged the consumer bureau at a public meeting to keep a closer eye on artificial intelligence innovations developed by fintech firms that are subject to less regulation.

The midterm elections virtually eliminate the chance that progress will be made on financial services legislation.

The focus since the 2016 election on easing rules, tax cuts and expanding access to credit is about to be turned on its head.

Shares of the Providence, R.I., company plunged Monday after a news report that it faces possible legal risks from the latest charges filed against Paul Manafort, the former campaign manager for President Trump.

Payment processors and banks are being called on to cut off funds to white supremacist groups, but there are practical and legal limits to what firms can do.