The Office of the Comptroller of the Currency (OCC) plans to continue its regulatory reforms in 2026. The regulator’s agenda includes reforms to liquidity risk management, Bank Secrecy Act/anti-money laundering (BSA/AML) compliance and community bank regulation, Comptroller of the Currency Jonathan V. Gould said in...
The Treasury Department reportedly aims to give its Financial Crimes Enforcement Network (FinCEN) the ability to veto other regulators’ findings that a bank has violated the Bank Secrecy Act (BSA). With this proposed change, Treasury wants to ensure that regulators focus on key parts of...
The Office of the Comptroller of the Currency (OCC) has terminated a 3-year-old enforcement action against Anchorage Digital Bank, the first federally chartered cryptocurrency-focused bank. The April 21, 2022, consent order addressed the bank’s failure to adopt and implement required Bank Secrecy Act and anti-money...
The digital age demands banks find new ways to ascertain at the point of onboarding that customers, whether enterprise clients or individuals, are who they say they are. PYMNTS Intelligence reported earlier this year that identity-related issues comprise 42% of all suspicious activity encountered by...
June 02, 2025
As nonbank enterprises offer financial services, aided by traditional financial institutions and FinTechs, the emergence of the banking-as-a-service (BaaS) model has promised to transform lending and platforms. But the recent spate of news tied to enforcement actions and settlements over data breaches gives the nod to a few takeaways of what not to do against […]
April 01, 2025
Witnesses from the ranks of business and banking told lawmakers that efforts to fight payment and investment scams must be aided by a “whole government” approach, along with fine-tuning of...
June 29, 2020
The pandemic has spurred businesses — by necessity — to use digital means to interact with their employees and to keep operations humming. And the great shift to digital is...
August 03, 2026
Four U.S. regulators have reached separate agreements with UBS Financial Services in which the company will pay a total of $125 million to settle violations of Bank Secrecy Act (BSA) anti-money laundering (AML) and countering the financing of terrorism (CFT) rules. UBS Financial Services settled charges with the Commodity Futures Trading Commission (CFTC), the Financial […]
December 12, 2025
The Office of the Comptroller of the Currency (OCC) plans to continue its regulatory reforms in 2026. The regulator’s agenda includes reforms to liquidity risk management, Bank Secrecy Act/anti-money laundering...
December 10, 2025
The Treasury Department reportedly aims to give its Financial Crimes Enforcement Network (FinCEN) the ability to veto other regulators’ findings that a bank has violated the Bank Secrecy Act (BSA)....
August 21, 2025
The Office of the Comptroller of the Currency (OCC) has terminated a 3-year-old enforcement action against Anchorage Digital Bank, the first federally chartered cryptocurrency-focused bank. The April 21, 2022, consent...