FinCEN

Rep. Emanuel Cleaver, D-Mo., says he is concerned that banks are freezing accounts of customers if they aren't providing citizenship information.

First Green Bank in Florida had to stop holding deposits for licensed marijuana sellers as a condition of making a deal.

The Treasury secretary told lawmakers that the government needs “to strike the right balance” on Bank Secrecy Act requirements while determining the best way to collect details about account holders.

With more permanent fixes not yet gaining enough traction, recent attempts to clarify marijuana banking rules through appropriations are also falling flat.

The legislation unveiled this week left out a requirement — included in an earlier version — for new companies to report their true owners.

Security Group was fined $5 million for abusive collection tactics; the Dutch payments company is now valued at nearly $16 billion.

Legislation with bipartisan support would raise the threshold for reporting suspicious activity, a goal banks have long sought.

California lawmakers have voted to authorize the establishment of state-chartered banks for the limited purpose of serving the marijuana industry.

Treasury Secretary Steven Mnuchin said that banking records of President Donald Trump's lawyer Michael Cohen appear to have been leaked from a database maintained by his department.

Deadlines imposed by U.S. and EU regulators are giving banks intercontinental whiplash.

For cryptocurrency entrepreneurs in particular, many of whom are just developing the anti-money laundering programs they are required to have under other FinCEN rules, the CDD rule is worth taking note of, writes Laurel Loomis Rimon, senior counsel at O'Melveny & Myers LLP.

A long-anticipated financial rule could help law enforcement root out illegal activity, but it requires banks to keep extra-close tabs on certain business clients. That won't be easy.

A long-anticipated financial rule could help law enforcement root out illegal activity, but it requires banks to keep extra-close tabs on certain business clients. That won't be easy.

Bankers have long complained that anti-money-laundering regulations impose an extra burden without really stopping major crime. D.C. is finally listening.

Bankers have long complained that anti-money-laundering regulations impose an extra burden without really stopping major crime. D.C. is finally listening.

Financial institutions engaged in virtual currency markets face a number of risks — proceeding carefully is justified.

Financial institutions engaged in virtual currency markets face a number of risks — proceeding carefully is justified.

Despite a shaky start to 2018, several experts in marijuana banking insist that there are opportunities available for credit unions that want to get involved in a potentially lucrative market.

After FinCEN issued its final BSA rule, the NCUA plans to address requirements about ongoing customer due diligence.

The comptroller said he is looking to capitalize on the industry's strong profits and high capital reserves to reduce costs and lower exam fees next year.