Category: Money Transmission

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Federal Bank Regulators Issue Joint Statement on Collaborative BSA/AML Compliance

On October 3, 2018, a group of federal bank regulators and FinCEN announced in a joint statement that banks and credit unions could collaborate and share resources to manage their Bank Secrecy Act (“BSA”) and anti-money laundering (“AML”) obligations.  A collaborative arrangement does not modify or abrogate any of the bank’s BSA/AML obligations, and the … Continue Reading

Fintech Week in Review: Week of September 10-17, 2018

The following is a summary of Fintech specific related topics, for the Blockchain Week in Review, please visit our sister blog post at the Virtual Currency Report. State Bank Regulators and NYDFS to renew litigation against OCC On September 12, the Conference of State Bank Supervisors (“CSBS”) announced that it would renew litigation efforts in opposition to the … Continue Reading

Fintech Week in Review: Week of September 3 – 7, 2018

The following is a summary of Fintech specific related topics, for the Blockchain Week in Review, please visit our sister blog post at the Virtual Currency Report. Varo Bank Receives Preliminary Approval for a National Bank Charter On September 4, the organizers of the fintech start up Varo Bank, N.A. announced that they have been granted preliminary approval … Continue Reading

Fintech in Review – Week of July 30 – August 3, 2018

The following is a summary of Fintech specific related topics, for the Blockchain Week in Review, please visit our sister blog post at the Virtual Currency Report. OCC Begins Accepting National Bank Charter Applications from Financial Technology Companies On July 31, the Office of The Comptroller of the Currency (“OCC”) announced that it will begin accepting applications for … Continue Reading
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