All Treasury articles – Page 2
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Blog
Who Is the Most Systemic of Them All? JP Morgan
Which large U.S. bank would cause the most collateral damage if it were to fail? JP Morgan, according to a new report from the Treasury Department. The report tried to quantify just how much systemic risk exists in banks designated as “Systemically Important Financial Institutions,” and JP Morgan topped the ...
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Blog
Treasury Issues Amendments to Cuba Sanctions
The Department of the Treasury’s Office of Foreign Assets Control and the Department of Commerce today published amendments to the Cuban Assets Control Regulations to implement policy changes announced by the President last month. The newly revised regulations, in part, allow a number of activities related to telecommunications, financial services, ...
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Blog
U.S. Treasury Names First Chief Risk Officer
The Department of Treasury has appointed Kenneth Phelan to the newly-created position of chief risk officer. He reports directly to Sarah Bloom Raskin, Deputy Secretary of the Treasury. Details inside.
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Article
Regulators Publish Latest Thinking on AML Compliance
Image: Financial regulators have just updated their examination manual for anti-money laundering compliance, giving financial firms plenty of holiday reading on how they should structure their AML programs. “The big changes are in areas where things have moved forward: virtual currency, prepaid cards, changes in the SAR rules, aggregation for ...
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Article
As Tech Firms Enter the Payments Space, Regulators Are Watching
Last month Apple plunged into the world of payment processing with its Apple Pay service that allows its mobile devices to make payments at retailers. Rivals Google, Microsoft, and Facebook have already dabbled in the market that includes Pay Pal and several others. These disruptive technologies may prompt regulators to ...
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