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The McLean, Va.-based company admitted that it failed to file suspicious activity reports even in cases when it knew about criminal charges against specific customers. The misconduct took place in a unit that served check-cashing businesses and was later shut down.1h ago
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Tier1 Financial Solutions says the acquisition will give it access to midsize financial institutions and that Alessa's product will improve onboarding for Tier1's clients.8h ago
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The credit reporting firm has been building out its identity and fraud protection business for existing customers, which include many of the world’s largest banks and telecommunications companies.January 8
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Congress acted first when it freed financial firms from having to disclose the beneficial owners of commercial clients. Now it's time for regulators to further ease anti-money-laundering reporting requirements by freeing them from filing duplicative or unnecessary suspicious activity reports.January 6Partner and banking group chairDebevoise
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The Office of the Comptroller of the Currency terminated a 2015 consent order that required the bank to improve its controls for combating money laundering.January 5
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With the new Congress sworn in, trade associations are already pushing their legislative wish lists, including more regulatory oversight of fintechs and protecting the industry's tax exemption.January 4
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Congress's enactment of the defense spending bill opposed by the White House removes the final hurdle for a key anti-money-laundering provision.January 2
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In December, the National Credit Union Administration barred the individuals from working in the financial services sector for taking money from their institutions for personal use.December 31
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An impasse over pandemic relief checks for Americans is holding up an override of President Trump's veto of a bill shifting beneficial-owner requirements from banks to their commercial clients.December 30