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FinCEN Files Show Banks’ ‘Whack-a-Mole’ Battle Against KYC/AML

PYMNTS

21), Commerzbank recounted in a statement that the transactions detailed in the FinCEN files are “based entirely on reports made by Commerzbank to the responsible authorities, mainly in the period 2010 to 2016,” and that the bank had reached a settlement in 2015 to pay regulators about $1.5 In one example, reported on Monday (Sept.

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BEC Targets BSA Officials At Credit Unions

PYMNTS

Those agencies include the aforementioned FinCEN, the Federal Reserve , the Federal Deposit Insurance Corporation (FDIC), the National Credit Union Administration (NCUA) and the Office of the Comptroller of the Currency (OCC). Embassy indicated that the funds were spent without proper documentation and authorization. “By

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Report: Data Key To Credit Union Member Retention

PYMNTS

The Financial Conduct Authority (FCA), a non-government financial regulatory body in the U.K., In the August Credit Union Tracker , PYMNTS explores the latest developments in the world of CUs, including new government initiatives in the U.S. Developments From Around the CU Space. percent in the U.K. CUs are facing more scrutiny in the U.S.,

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The CFPB Found Unconstitutional…But …

PYMNTS

Congress gave the CFPB director “more unilateral authority than any other officer in any of the three branches of the U.S. Although the FRB, ITC, SEC, FDIC, FCC, NCUA, etc., government, other than the President,” wrote Judge Kavanaugh, a George W. Bush appointee.

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Deep Dive: Why CU-Issued Credit Cards Face An Uphill Battle

PYMNTS

Roosevelt in 1934, gave the National Credit Union Administration (NCUA) the authority to set maximum credit union interest rates. In fact, CU interest rates are capped by federal regulations. The Federal Credit Union Act, signed into law by President Franklin D.

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Financial Policy Predictions 2021: Meaningful Changes Ahead

FICO

On December 8 and 11, the House and Senate respectively approved the National Defense Authorization Act of 2021 (NDAA) by large bipartisan margins. In short, I believe the new debt collection rules will largely remain intact, at least for the foreseeable future. BSA/AML Reforms Are on their Way - Even With a Looming Presidential Veto.

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President Trump issues Executive Order on digital assets

The Payments Association

the Board of Governors of the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), or the National Credit Union Administration (NCUA)) are not included in the Working Group, especially given the allegations of an ‘Operation Choke Point 2.0.,’