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Bank Secrecy Act › Bank Holding Company

The Bank Secrecy Act is a United States federal statute enacted in 1970 to detect and prevent money laundering within financial institutions. The BSA requires financial institutions to keep records and provide... more +
The Bank Secrecy Act is a United States federal statute enacted in 1970 to detect and prevent money laundering within financial institutions. The BSA requires financial institutions to keep records and provide documentation to authorities for single transactions of more than $10,000 and report other suspicious account activity that could signify money laundering or other financial crimes. less -
Paul Hastings LLP

FinCEN Proposes AML and SAR Filing Obligations for RIAs and ERAs

Paul Hastings LLP on

On February 13, 2024, the United States Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued a proposed rule that would apply comprehensive anti-money laundering and countering the financing of terrorism...more

Nutter McClennen & Fish LLP

Nutter Bank Report: October 2020

Nutter McClennen & Fish LLP on

SBA Adopts Streamlined Loan Forgiveness Procedures for PPP Loans of $50,000 or Less - The U.S. Small Business Administration (“SBA”) has adopted an interim final rule to streamline the loan forgiveness application process...more

Skadden, Arps, Slate, Meagher & Flom LLP

Increase in SIFI Threshold Should Spur More Bank M&A Activity

Skadden, Arps, Slate, Meagher & Flom LLP on

On March 14, 2018, the U.S. Senate approved the Economic Growth, Regulatory Relief and Consumer Protection Act, a bipartisan bill that would repeal or modify certain provisions of the Dodd-Frank Act and eliminate or ease a...more

Manatt, Phelps & Phillips, LLP

Fed Fines Foreign Bank $41M Over BSA/AML Failures

Manatt, Phelps & Phillips, LLP on

The Board of Governors of the Federal Reserve System announced a $41 million penalty against the U.S. operation of a foreign bank over Bank Secrecy Act and anti-money laundering deficiencies....more

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