Biden taps vice chair of Fed for economics post
President Joe Biden announced the appointment of Vice Chair of the Federal Reserve Lael Brainard as director of the National Economic Council.
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News BriefFinCEN flags $9 billion in Iranian shadow-banking activity, citing SARs filings from U.S. banks
Approximately $9 billion of potential shadow-banking flows tied to Iranian networks in 2024, according to a new analysis from FinCEN. The report highlights how illicit funds are making their way through financial institutions as they meet the requirements of the Bank Secrecy Act (BSA).
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PremiumCompliance survey shows clawback policies and cooperation tools largely unused
Many companies have strong compliance policies to encourage cooperation with regulators and hold staff accountable, but these policies are rarely used, and cooperation often depends on cost and business benefit, according to a new survey of compliance professionals.
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ArticleOCC proposes dropping its ‘recovery plan’ requirements for big banks
Less than a year after a new rule required more of the U.S.’s biggest banks to draft “recovery” plans in case of failure, the rule is on its way out.
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ArticleNavigate SEC cautiously during shutdown, experts advise
The U.S. government shutdown has brought most operations at the Securities and Exchange Commission (SEC) to a screeching halt, but that doesn’t mean compliance teams should be taking a breather, experts advised.
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ArticleComplying with the EU Data Act – What companies should know
Companies could face significant compliance challenges in trying to meet new EU legal requirements about how companies share data with third parties.
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ArticleCalifornia climate rules cause uncertainty as CARB delays draft guidance
California has delayed the release of draft greenhouse gas reporting rules for businesses until early 2026, the California Air Resources Board said.