Bank regulators respond to Hurricane Michael
Federal banking regulators have issued an alert for financial institutions affected by Hurricane Michael. The alert covers the storm’s effects on loan modifications, regulatory reporting, and compliance with the Community Reinvestment Act.
Related articles
-
News BriefFCA fines Monzo digital bank $28 million for AML, KYC failures
Britain’s Financial Conduct Authority has fined the online bank Monzo the equivalent of more than $28 million for failing to properly collect customer information and protect against financial crimes. The move is the latest in a series of efforts by British authorities to combat chronic money laundering and other crimes ...
-
News BriefCommunication and relationships is increasingly critical for compliance teams
Compliance is increasingly in the spotlight as companies are tackling everything from artificial intelligence and other new technologies to risk management and mitigation. But it’s soft skills of communication and relationship building that are becoming the most critical tools for success.
-
News BriefBanks reported more than $1 B in suspicious activity–much of it fentanyl linked
Banks alerted authorities to $1.4 billion in suspicious transactions in 2024, a big assist in the nation’s fight against crime and fentanyl trafficking, according to the Financial Crimes Enforcement Network.