On June 21, 2018, the United States District Court for the Southern District of New York (“the Court”) issued an opinion in the matter of the Consumer Financial Protection Bureau, ...
On June 12, 2018, the House of Representatives introduced a bill proposing to update the dollar amount thresholds for Currency Transaction Reports (“CTR”) and Suspicious Activity Reports (“SAR”); the threshold ...
Maine has adopted single-party and multiple-party account ownership types. Either account type may have a payable on death (POD) designation and a multiple-party account may be with or without a ...
The Federal Financial Institutions Examination Council (FFIEC) released the customer due diligence and beneficial owner sections of the FFIEC Bank Secrecy and Anti-Money Laundering Examination Manual. The mandatory compliance date ...
The Financial Crimes Enforcement Network (FinCEN) issued an administrative ruling providing a 90-day exemption from the requirements of the Beneficial Ownership Rule for certain products and services that automatically renew ...
The Federal Financial Institutions Examination Council (FFIEC) issued a statement about cyber insurance and its involvement in a financial institution’s risk management programs. Cyber insurance coverage is meant to offset ...
On April 3, 2018, the Financial Crimes Enforcement Network (FinCEN) issued Frequently Asked Questions to assist financial institutions with the Customer Due Diligence Requirements, which have a mandatory compliance date ...
On March 14th, the Senate passed a bipartisan bill to loosen the reigns of the Dodd-Frank Act, approving the bill with a vote of 67 to 31. Key components of ...
H.R. 5266 was introduced in the House by a group of bipartisan members (comprised to two democratic and two republican members) to modify the structure of CFPB, replacing the sole ...
On February 13, 2018 the CFPB released its Strategic Plan in which it outlined its goals during for the next 5 years (2018-2022). In addition to providing an overview of ...