FinCEN

The beneficial ownership regulation, meant to catch financial criminals, has produced data that is useful in making small-business loans, LexisNexis Risk Solutions says.

Unlike other “suspicious activity report” categories, a new proposal to add a “cyberevent” category would require institutions to detect and report digital mischief whether directed at a customer’s account or the bank itself.

A trade group owned by the nation's largest banks wants Congress to require state governments to collect information about the true ownership of the companies they incorporate. Such a law could reduce the banking industry’s cost of complying with anti-money-laundering rules.

Any money laundering investigation could ultimately entangle banks that have done business with President Trump and his various firms over the years.

The Treasury Department's Financial Crimes Enforcement Network said Merchants failed to properly monitor money-services businesses that had ownership ties with bank insiders.

The Clearing House asks Fincen to do more to fight AML; two federal courts side with consumer agency in separate cases, including question about its constitutionality