5th April 2017
President Donald Trump on Tuesday repeated his campaign pledge to undertake a major overhaul of bank regulations, arguing that lending restrictions are hampering job growth. Tighter lending conditions often throw cold water on job growth. A closer look at the data, however, shows that neither of those things is happening… Read More
5th April 2017
Candidates interested in heading the Financial Reporting Centre, the state agency charged with identifying proceeds of crime and fighting money laundering, have three days to apply. FRC, established under the Proceeds of Crime and Anti Money Laundering (Amendment) Act 2012, has largely been operating under staff seconded from the Central Bank… Read More
4th April 2017
Congressional Democrats filed an amicus brief with a federal appeals court in support of the Consumer Financial Protection Bureau’s current structure as an independent agency and its constitutionality. The brief was filed after a D.C. Circuit Court granted the CFPB’s petition for rehearing en banc in a case related to… Read More
4th April 2017
The UK Government has published draft Money Laundering Regulations 2017 alongside a consultative document. Publication of the draft Regulations follows a consultation launched by HM Treasury on September 15, 2016, entitled “Transposition of the Fourth Money Laundering Directive,” where it outlined how the UK Government intended to transpose the 4MLD… Read More
3rd April 2017
President Donald Trump’s plans to to ease banking regulation is raising eyebrows in Europe. Trump has asked the U.S. Treasury Department to submit a report on possible changes to Dodd-Frank – the set of rules established in the wake of the 2008 financial crisis to clamp down on banks risk-taking. Read More
3rd April 2017
Effective immediately, [HSBC] retail customers must disclose how their accounts are used, in addition to providing their address, contact details, employment and income history, to qualify for an HSBC account… Global banks … have been stepping up their financial control systems to comply with US and European regulations… Read More
31st March 2017
Federal agents are conducting a probe into possible money laundering at online lender Bank of Internet, The Post has learned. The Justice Department, which is leading the investigation, has interviewed at least one former employee of the San Diego-based bank, sources said.  … Read More
30th March 2017
Gov. Pete Ricketts has signed into law an overhaul of state banking regulations. Ricketts, during a signing ceremony, said the comprehensive legislation updates state regulation of the banking industry. Read More
29th March 2017
Republican members of the House Financial Services Committee continued to lay the foundation for a regulatory relief bill for community banks Read More
28th March 2017
Jared Kushner, US president Donald Trump’s son-in-law, is to be the latest White House official grilled over the Trump campaign’s ties to Russia, the New York Times reports (paywall). Read More