Today is Friday (April 22), and a crypto bank that was granted a conditional license last year is now being called to the carpet by the Office of the Comptroller of the Currency (OCC) for anti-money laundering (AML) violations. Plus digital payments firm TransferMate will...
Cryptocurrency lender Anchorage Digital Bank failed to comply with anti-money laundering mandates (AML) and violated rules for monitoring suspicious activity, according to a statement from the Office of the Comptroller of the Currency (OCC). Get the Full Story Complete the form to unlock this article...
The Federal Trade Commission (FTC) and the Department of Justice (DOJ) are working on new horizontal merger guidelines, which may be ready by the end of the year, that could include significant changes to the way regulators approach merger analysis. Get the Full Story Complete...
The federal Consumer Financial Protection Bureau (CFPB) and New York’s attorney general filed a federal lawsuit against MoneyGram International, Inc. and MoneyGram Payment Systems, Inc., alleging the companies failed to provide money to overseas recipients in a timely manner, according to a Thursday (April 21)...
Citing sanction-busting fears that have grown since Russia’s invasion of Ukraine, the International Monetary Fund (IMF) has called for a global crackdown on cryptocurrencies that would bring them into the capital control regimes that govern traditional assets. Get the Full Story Complete the form to...
The Federal Reserve will close tomorrow, April 22, a public consultation for its updated guidelines to evaluate requests for accounts and services at Federal Reserve Banks. However, according to the Federal Reserve’s website, there is not even one public comment to these guidelines — this...
On May 1, a new rule issued by the Office of the Comptroller of the Currency (OCC) that modifies the requirements for national banks and federal savings associations to file suspicious activity reports (SARs) will start to be applicable. Get the Full Story Complete the...
To say we’re behind on medical debt is an understatement on several levels. It wasn’t until 2021 when the Census Bureau finally caught up with data collected on this issue in 2017. Get the Full Story Complete the form to unlock this article and enjoy...
In an April 13 blog post, the International Monetary Fund (IMF) explained the benefits that FinTech companies have brought to consumers, but it also highlighted the challenges that these sometimes lightly regulated entities pose for regulators. The IMF’s recommendation to reduce risks is more regulation....
