U.S. Banks Push For Laundering Enforcement Protections

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.