Treasury should assess whether shifts in remittance flows to non-banking channels for “fragile countries” may affect the department’s ability to monitor for financial crimes and, if necessary, identify corrective actions, according to a report issued […]
A “retrospective review” by banks of their enforcement of anti-money laundering laws is recommended by a congressional watchdog after its survey found an estimated four out of every five (80%) banks near the Southwest U.S. […]
“De-risking” – or the action of banks dropping accounts from “money services business” (MSBs) and other funds-transfer or remittances groups – is blocking or eliminating financial services to “entire classes of legally operating businesses,” a […]
Examining De-risking and its Effect on Access to Financial Services” Thursday, February 15, 2018 9:30 AM in 2128 Rayburn HOB Financial Institutions and Consumer Credit This hearing previously scheduled for Thursday, February 15, 2018, at […]
Hearings on the regulatory regime affecting data security and how notifications of breaches are reported, and an examination of “de-risking” and its impact on access to financial services, are scheduled in the House next week, […]
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