23feb23 – Regulatory Report

What's up

[ September 8, 2026 ] Cannabis businesses still having trouble obtaining banking services, report finds Other
[ September 4, 2026 ] Targeting order for currency transaction reporting by MSBs along Southwest Border renewed Other
[ September 4, 2026 ] FinCEN issues alert, seeks FI vigilance against digital asset investment scams Other
[ September 4, 2026 ] Economic activity rose in August, but ‘heightened uncertainty’ linked to energy prices, Iran war persists The Fed
[ September 3, 2026 ] Public banks’ annual financial disclosures should be reviewed by SEC, GAO decides; SEC says ‘not it’ FDIC

Prohibited title loans, some at 3x interest rate cap, earn $10 million fine for Ga. firm

February 23, 2023 0

Extending prohibited title loans to military families, and charging nearly three times over the 36% annual interest rate cap for some of those, has earned a Savannah, Ga., firm a $10 million penalty, and another […]

Statement raises red flags over ‘liquidity risks’ of deposits from crypto-related firms

February 23, 2023 0

The “potential heightened liquidity risks” presented by certain sources of funding from crypto-asset-related entities is highlighted in a joint statement issued Thursday by federal banking agencies. “When a banking organization’s deposit funding base is concentrated […]

New FAQs focus on permissible use of state-issued mobile drivers’ licenses for customer ID verification

September 8, 2026 0

Financial institutions may use state-issued mobile driver’s licenses (mDLs) and other government-issued digital credentials for ID verification under the Bank Secrecy Act (BSA)/anti-money laundering (AML) customer ID program (CIP) rule, federal regulators said Tuesday. Treasury’s Financial Crimes Enforcement Network (FinCEN) [...]
Cannabis businesses still having trouble obtaining banking services, report finds

September 8, 2026 0

Banks still hesitate to provide services to cannabis businesses due to legal issues and costs, according to a report issued Tuesday by the congressional watchdog. And, according to the Government Accountability Office (GAO), although more banks have started serving the [...]
Targeting order for currency transaction reporting by MSBs along Southwest Border renewed

September 4, 2026 0

A geographic targeting order (GTO) requiring money services businesses (MSBs) along the Southwest Border to file additional currency transaction reports (CTRs) was renewed and accompanied by updates to frequently asked questions. The order, issued by Treasury’s Financial Crimes Enforcement Network [...]
2 banks rated ‘needs to improve,’ 2 ‘outstanding’ in FDIC’s latest CRA ratings list

September 4, 2026 0

Of the 37 banks that received evaluation ratings under the anti-redlining Community Reinvestment Act (CRA) in June, two were rated “needs to improve” and two were deemed “outstanding,” their federal regulator said. The Federal Deposit Insurance Corp. (FDIC) list shows [...]
FinCEN issues alert, seeks FI vigilance against digital asset investment scams

September 4, 2026 0

Financial institutions are urged to be vigilant against digital asset investment scams perpetrated by overseas scam centers in a recent alert from Treasury’s financial crimes enforcement arm. The Financial Crimes Enforcement Network (FinCEN), in a release Thursday, pointed to a [...]
Economic activity rose in August, but ‘heightened uncertainty’ linked to energy prices, Iran war persists

September 4, 2026 0

Economic activity increased, slightly to moderately, in 10 to 12 Federal Reserve districts since early July through August, the agency said Wednesday in its latest semi-monthly report on economic conditions. However, the Beige Book also noted, although the general economic [...]