BSAAG – Regulatory Report

What's up

[ May 8, 2024 ] Large banks ‘well positioned’ to absorb financial shock; CRE risk sizable but manageable, Fed governor says The Fed
[ May 7, 2024 ] Report finds sexual harassment at FDIC went on ‘far too long’; board chairman’s role highlighted FDIC
[ May 7, 2024 ] Bureau dings Chime, orders it to pay $4.55 million over untimely account-closure refunds CFPB
[ May 7, 2024 ] BSA/AML deficiencies noted in Fed order with MT bank The Fed
[ May 7, 2024 ] Agencies nudged to act on coordinating identification, tackling of blockchain risks FDIC

FinCEN invites nominations to BSA advisory panel

December 23, 2021 0

Nominations of financial institutions, trade groups, and non-federal regulators or law enforcement agencies to the Bank Secrecy Act Advisory Group (BSAAG) are sought by Treasury’s Financial Crimes Enforcement Network (FinCEN), according to a Federal Register […]

FinCEN taking nominations to BSA advisory panel

January 13, 2021 0

Nominations to membership on the panel that advises the Financial Crimes Enforcement Network (FinCEN) director on Bank Secrecy Act (BSA) reporting requirements will be taken until Jan. 28, the agency said in a recent notice. […]

Large banks ‘well positioned’ to absorb financial shock; CRE risk sizable but manageable, Fed governor says

May 8, 2024 0

The capital adequacy and liquidity of the largest and most interconnected financial firms appear “well positioned” to absorb a shock to the financial system, the Federal Reserve Board’s chair of its financial stability committee said Wednesday. Meanwhile, she added, risk [...]
Report finds sexual harassment at FDIC went on ‘far too long’; board chairman’s role highlighted

May 7, 2024 0

A failure to provide a workplace safe from sexual harassment, discrimination, and other interpersonal misconduct went on “for far too many employees and for far too long,” according to a report issued Tuesday by a special committee of the board [...]
Bureau dings Chime, orders it to pay $4.55 million over untimely account-closure refunds

May 7, 2024 0

The financial-technology (fintech) firm Chime Financial must pay a $3.25 million civil money penalty (CMP) and provide at least $1.3 million in consumer redress for its failure to timely provide consumers their account balance refunds after they closed their accounts, [...]
BSA/AML deficiencies noted in Fed order with MT bank

May 7, 2024 0

First Citizens Bank of Butte, Butte, Mont., is required to bring its operations into compliance with Bank Secrecy Act (BSA) anti-money laundering (AML) rules and regulations under an agreement announced Tuesday by the Federal Reserve Board. In the May 2 [...]
Agencies nudged to act on coordinating identification, tackling of blockchain risks

May 7, 2024 0

Identifying and addressing blockchain risks needs to be addressed by two federal banking regulators, as recommended last year, according to a report issued Tuesday by the congressional watchdog. In separate reports on “open priority recommendations,” the congressional Government Accountability Office [...]