by Liz DeMarco | Oct 23, 2026 | Risky Business Recap
Snapshot: On October 21, 2026, the OCC issued its final rule implementing key provisions of the GENIUS Act, establishing requirements for permitted payment stablecoin issuers, foreign payment stablecoin issuers under OCC jurisdiction, and certain custody activities...
by Liz DeMarco | Oct 16, 2026 | Risky Business Recap
Snapshot: On October 13, 2026, FinCEN assessed a $1.2 billion penalty against Bank of America for BSA violations, including failures involving its AML program, correspondent banking due diligence, and suspicious activity reporting. The coordinated action also included...
by Liz DeMarco | Oct 16, 2026 | Compliance Chronicles
When transaction monitoring, escalation, staffing, audit, and remediation all break down at once, the consequences can be enormous. On October 13, 2026, FinCEN assessed a $1.2 billion civil money penalty against Bank of America for violations of the Bank Secrecy Act...
by Liz DeMarco | Oct 9, 2026 | Risky Business Recap
Snapshot: On October 5, 2026, FinCEN announced the withdrawal of two proposed rules that would have imposed additional recordkeeping, verification, and reporting requirements on certain digital asset transactions involving unhosted wallets and convertible virtual...
by Liz DeMarco | Oct 2, 2026 | Risky Business Recap
Snapshot: On September 16, 2026, FinCEN convened a FinCEN Exchange with global financial institutions as part of Operation Economic Outcast. Treasury provided participating institutions with intelligence on financial networks, facilitators, correspondent banking...
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