The Treasury Department might propose new regulations for financial institutions aimed at discouraging banks from shutting out large swaths of potential banking customers because of risk concerns, an issue called “de-risking.”
In a report released Tuesday, the agency recommended proposing regulations that would “require financial institutions to have reasonably designed and risk-based AML/CFT (anti-money laundering/countering the financing of terrorism) programs supervised on a risk basis, possibly taking into consideration the effects of financial inclusion.”
