Money laundering

The House Financial Services Committee is preparing to vote on legislation to modernize anti-money-laundering rules, but the latest version of the bill excludes a key provision involving the collection of beneficial ownership information.

Republican congressmen Blaine Luetkemeyer and Steve Pearce say their new legislation would update anti-money-laundering and counterterrorism requirements for small financial institutions.

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

Financial institutions can improve monitoring of suspicious activity and potentially risky customers using algorithms, but they need to treat this new technology with caution.

Financial institutions can improve monitoring of suspicious activity and potentially risky customers using algorithms, but they need to treat this new technology with caution.

No surprises expected from the annual Fed reviews; Elad Roisman is seen as the pick to replace Michael Piwowar on the panel.

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

Speaking at an industry conference Thursday, Wells Fargo CEO Tim Sloan left open the possibility that employees intentionally falsified important regulatory documents.

The Senate bill is a huge win for the financial services industry, but there are still plenty of unresolved legislative issues of interest to banks and credit unions.

The Senate bill is a huge win for the banking industry, but there are still plenty of unresolved legislative issues of interest to financial institutions.

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.

A river of drug-cartel money flowed through the U.S. arm of Dutch banking giant Rabobank, and now federal investigators are pursuing criminal cases against former senior executives for allegedly covering it up.

Trump-appointed regulators are making headway on easing regulations. But there's one critical voice missing.

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.

Prometheum wants to win the SEC’s approval of its own token offering, paving the way for others shortly afterward.

Dan Rollins engineered nearly a dozen deals while at Prosperity Bank. Now CEO at BancorpSouth, he has returned to M&A after spending four frustrating years dealing with compliance issues.