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July 19, 2024 |
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 Features
As Florida and other states pass laws that seemingly conflict with national banks’ ability to comply with federal anti-money laundering laws, the Office of the Comptroller of the Currency needs to clarify when federal mandates preempt state statute, financial analyst Karen Petrou wrote in a recent blog post.
Board expertise evolves with the times. Having a director with cybersecurity expertise on a board is a high-return, low-effort action that materially strengthens the boardroom.
The ABA and two banking associations today asked the FDIC to extend by one year the compliance deadline for its final rule on the use of the agency’s name and logo by financial institutions, saying there are multiple aspects of the rule that need to be clarified.
The ABA and three financial sector associations urged the Consumer Financial Protection Bureau to give financial institutions at least two years to comply with its proposed financial data-sharing regulation, which would implement Section 1033 of the Dodd-Frank Act.
Several states have adopted or are considering legislation that risks fracturing the national banking system, and these state laws may conflict with federal laws intended to combat money laundering and terrorist financing, three House lawmakers said in a recent letter to Treasury Department officials.
The Financial Crimes Enforcement Network, together with the Office of Foreign Assets Control and the FBI, have issued a notice alerting financial institutions to methodologies, financial typologies and red flags associated with timeshare fraud conducted by Mexico-based transnational criminal organizations, or TCOs, including the Jalisco New Generation Cartel.
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