SUMMARY: The Federal Reserve Board (Board) proposes to amend Regulation DD, which implements the Truth in Savings Act, and the staff commentary to the regulation, to provide additional disclosures about account terms and costs associated with overdrafts. The proposed amendments would set forth content and timing...
SUMMARY: On June 14, 2007, the Board published proposed amendments to Regulation Z, which implements the Truth in Lending Act (TILA), and to the staff commentary to the regulation, following a comprehensive review of TILA's rules for open-end (revolving) credit that is not home-secured. The proposed revisions...
The Office of Thrift Supervision (OTS) today approved a proposal to prohibit savings associations from engaging in unfair or deceptive acts or practices regarding credit cards and overdraft services that violate the Federal Trade Commission Act.
The Financial Crimes Enforcement Network ("FinCEN") is issuing this guidance to assist money services businesses ("MSBs") in correctly completing FinCEN Form 109, Suspicious Activity Report by Money Services Business ("SAR-MSB").
The Federal Reserve Board on Friday proposed rules to prohibit unfair practices regarding credit cards and overdraft services that would, among other provisions, protect consumers from unexpected increases in the rate charged on pre-existing credit card balances.
The Financial Crimes Enforcement Network (FinCEN) today released the latest in a series of reports, which are based upon analysis of suspicious activity reports (SARs) provided by the financial industry. Today's report, Suspected Money Laundering in the Residential Real Estate Industry: An Assessment Based Upon...
London - Chairman Julius, thank you for that kind introduction. It is a pleasure to be here for the New Financial Frontiers conference. The Chatham House, as home to the Royal Institute of International Affairs, has served its mission well to foster debate and ideas on important international policy matters for over...
The Financial Crimes Enforcement Network (FinCEN) and the Office of the Comptroller of the Currency (OCC) today announced the assessment of concurrent civil money penalties, each $15 million, against the New York Branch of United Bank for Africa, PLC ("the Branch") for violations of the Bank Secrecy Act (BSA). The...
The Office of the Comptroller of the Currency (OCC) has entered into a settlement agreement with Wachovia Bank, National Association that directs the bank to make restitution to consumers harmed by its relationships with several telemarketers and third party payment processors.
The bank has agreed to make...
The Office of the Comptroller of the Currency (OCC) published a final rule in the Federal Register today to reduce unnecessary regulatory burden and revise and update various OCC regulations.
The OCC final rule results from the agency's most recent review of its regulations to ensure that they effectively advance...
FinCEN Announces Proposal to Amend Currency Transaction Reporting Exemption Regulations
The Financial Crimes Enforcement Network (FinCEN) is proposing to significantly simplify the current requirements for depository institutions to exempt their eligible customers from currency transaction reporting. FinCEN announced...
Chief Counsel and First Senior Deputy Comptroller Julie L. Williams provided the Office of the Comptroller of the Currency's views on H.R. 5244, the Credit Cardholders' Bill of Rights Act of 2008, today before the Subcommittee on Financial Institutions and Consumer Credit of the House Committee on Financial Services.
The following individuals have been added to OFAC's SDN list:
CALDERON VELANDIA, Nilson (a.k.a. "VILLA"), Colombia; DOB 18 Jul 1974; POB Mogotes, Santander, Colombia; citizen Colombia; nationality Colombia; Cedula No. 91348897 (Colombia); Passport AK040618 (Colombia
The Treasury Department on Monday issued proposed regulations that implement the Foreign Investment and National Security Act of 2007 (FINSA). The proposed regulations provide an update to regulations issued in 1991 that govern the Committee on Foreign Investment in the United States (CFIUS) and its process for...
The U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) today designated two entities and four individuals for acting on behalf of the Revolutionary Armed Forces of Colombia or FARC, a narco-terrorist group.
"Today's designation continues our targeted campaign to take down the FARC's financial...
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