Why it matters -
One Colorado credit union is taking matters into its own hands after the Federal Reserve Bank of Kansas City (FRB-KC) and the National Credit Union Association (NCUA) rejected the institution's...more
9/1/2015
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Credit Unions ,
Declaratory Judgments ,
Department of Justice (DOJ) ,
Due Process ,
Financial Institutions ,
FinCEN ,
Marijuana Related Businesses ,
NCUA ,
Suspicious Activity Reports (SARs) ,
Tenth Amendment
Why it matters -
In a coordinated effort, the U.S. government identified another “poster child” to demonstrate its continued vigilance and earnestness in pursuing lax BSA/AML procedures and oversight and violations of...more
7/8/2015
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banks ,
BSA/AML ,
Civil Monetary Penalty ,
Compliance ,
Department of Justice (DOJ) ,
Enforcement ,
Enforcement Actions ,
FDIC ,
FinCEN
State and Federal Lawmakers, Chair of Fed Weigh in on Regulation of Virtual Currency -
The New York Department of Financial Services issued an order on Wednesday that it will immediately start accepting applications...more
3/14/2014
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Bitcoin ,
Chadbourne & Parke LLP v Troice ,
Class Action ,
Compliance ,
Consumer Financial Protection Bureau (CFPB) ,
Credit Cards ,
Credit Reports ,
Ponzi Scheme ,
SCOTUS ,
SLUSA ,
Virtual Currency
With the bulk of the banking industry’s credit problems resolved or at least more manageable than in the recent past, the regulators appear to be on a new warpath. Over the last year, they have sent strong signals to the...more
For many years the government has encouraged directors and officers of corporations to ensure that they have robust compliance programs to detect and prevent violations of law. This is especially important in regulated...more