The top U.S. banks may gain a new regulatory tool to fight back against federal money laundering enforcement actions, Reuters reported on November 12.
A proposal, currently being developed within the Treasury Department, would allow banks to more strongly appeal expensive enforcement actions following the discovery that money was laundered through their systems.
In recent years, a number of banks worldwide would have faced hundreds of millions of dollars in costs as a result of current regulation.
To learn more about the proposal, read the full story here.
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