Compliance

Financial Inclusion Rules for Credit Unions Go Too Far, ABA Argues

Banking associations say there is “simply no justification” for credit union powers proposed for addition to financial inclusion legislation

The Lummis-Gillibrand Act aims to bring clear regulation on digital assets

Criminals are constantly adapting and devising new ways to evade safety and security measures meant to prevent illicit activities

The association said the rules as they are fail to account for significant competition in many product lines

The firm has been penalized for failing to file anti-money laundering reports on time

The acting comptroller says banks should look at risk exposure now to avoid “large over-reactions in the future”

Two major deals are going to be the subject of public hearings as scrutiny of transactions increases

The regulator’s proposals do not take into account other policy goals, according to a trade body coalition

Michael Hsu calls for reform but rejects the idea of a moratorium on transactions

The proposal is aimed at bolstering credit for low-income communities