- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2020-10-28T16:30:00
The Office of the Comptroller of the Currency’s finalized “true lender” rule clarifies how banks are responsible for the compliance obligations and actions of their third-party lending partners.
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President Joe Biden has signed Congress’ repeal of the Office of the Comptroller of the Currency’s “true lender” rule issued last year in the waning months of the Trump administration.
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Four federal banking regulators have joined the Treasury Department’s Financial Crimes Enforcement Network in issuing a notice of proposed rulemaking that would require financial institutions to conduct more thorough risk assessments on their anti-money laundering/countering the financing of terrorism programs.
