The next item in McGlinchey's Deep Dive into Payments Series is a podcast on money transmission by attorneys Jeff Barringer, Amy Greenwood-Field, and Aaron Kouhoupt. Their discussion centers around the impacts of money...more
8/28/2023
/ Cryptocurrency ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Licensing Rules ,
Money Services Business ,
Money Transmission Act ,
Money Transmitter ,
Payment Processors ,
The Model Law ,
Third-Party
The next item in McGlinchey’s Deep Dive into Payments Series is on money transmission by attorneys Jeff Barringer, Amy Greenwood-Field, and Aaron Kouhoupt. Their discussion centers around the impacts of money transmission...more
8/28/2023
/ Cryptocurrency ,
Financial Institutions ,
Financial Services Industry ,
FinCEN ,
Licensing Rules ,
Money Services Business ,
Money Transmission Act ,
Money Transmitter ,
Payment Processors ,
The Model Law ,
Third-Party
The Bank Secrecy Act (BSA) and parts of the U.S. Patriot Act’s Office of Foreign Asset Control (OFAC) requirements have seemingly similar goals: to prevent money laundering and the funding of terrorist activities. Yet a...more
9/16/2021
/ Anti-Money Laundering ,
Bank Secrecy Act ,
Banking Sector ,
Banks ,
Blocked Person ,
BSA/AML ,
Customer Identification Program (CIP) ,
Financial Crimes ,
Financial Institutions ,
FinCEN ,
Know Your Customers ,
Money Laundering ,
Office of Foreign Assets Control (OFAC) ,
SDN List ,
Terrorist Financing
Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law on June 17, 2020. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more
8/5/2020
/ Bankers ,
Banks ,
Contract Terms ,
Coronavirus/COVID-19 ,
Credit Unions ,
Federal Credit Unions ,
Financial Institutions ,
Forbearance Agreements ,
Foreign Banks ,
Governor Cuomo ,
Hardship Extensions ,
Investment Property ,
Investment Trust Companies ,
Mortgage Escrow Account ,
Mortgage Interest ,
Mortgage Servicers ,
New Legislation ,
New York ,
NYDFS ,
Private Trust Companies ,
Relief Measures ,
Savings and Loan Companies ,
State and Local Government ,
State Regulators ,
Vacation Homes
On June 17, 2020, Governor Andrew Cuomo signed S8428/A10530 and S8243-C/A10351-B into law. Collectively, in relevant part, the legislation creates N.Y. Banking Law § 9-x, which relates to residential forbearances as a result...more
6/23/2020
/ Borrowers ,
Compliance ,
Coronavirus/COVID-19 ,
Department of Financial Services ,
Executive Orders ,
Fannie Mae ,
FHA Loans ,
Financial Institutions ,
Forbearance Agreements ,
Freddie Mac ,
Ginnie Mae ,
Governor Cuomo ,
Loan Servicer ,
Loss Mitigation ,
Mortgages ,
New Legislation ,
New York ,
Relief Measures ,
State and Local Government ,
Veterans Administration