2+ hour, 36+ min ago   (218+ words) Washington, D.C. — Following today’s release of an updated version of the Digital Asset Market Clarity Act, the American Bankers Association, Bank Policy Institute, Consumer Bankers Association, Financial Services Forum, Independent Community Bankers of America and National Bankers Association issued the following…...

2+ day, 4+ hour ago   (594+ words) Banking depends on trust—and so do the scam tactics that criminals use to target millions of consumers nationwide. According to the Federal Trade Commission, consumers lost $3.5 billion to impostor scams, including bank impersonation scams, last year alone. The sequence…...

6+ day, 12+ min ago   (176+ words) Washington, D.C. – Executive Vice President and Head of BITS Heather Hogsett issued the following statement today in response to the joint statement from the OCC, Federal Reserve and FDIC establishing updated procedures for handling sensitive bank data during the supervisory process:…...

2+ week, 30+ min ago   (249+ words) Home / Module #15 To safeguard the global financial system, the Bank Secrecy Act holds financial institutions to certain recordkeeping and reporting requirements in order to assist government agencies in detecting and preventing financial crime, such as anti-money laundering and counter-terrorist financing....

2+ week, 2+ hour ago   (130+ words) The current Clarity Act fails to address the AML gaps that do exist: The risk: bad actors will go where the rules are weakest. A framework that covers only part of the market and exempts others will push illicit finance…...

2+ week, 23+ hour ago   (69+ words) Bank Policy Institute BPI Statement on Federal Reserve Proposal on Anti-Money Laundering and Countering the Financing of Terrorism Programs Washington, D.C. – BPI issued the following statement today in response to the Federal Reserve Board’s proposed updates to its Anti-Money Laundering and…...

4+ week, 41+ min ago   (724+ words) Bank Policy Institute 5 Takeaways from Paige Pidano Paridon’s Testimony on Payments BPI Executive Vice President & Co-Head of Regulatory Affairs Paige Pidano Paridon, testified today before the House Financial Services Committee at a hearing titled “Future of Payments: Promoting Innovation and…...

1+ mon, 1+ week ago   (189+ words) Industry guidance[1] indicates that AI is accelerating vulnerability discovery, compressing the time between disclosure and exploitation and increasing the need for institutions to run current software, tighten patching cycles and embed security into AI development and deployment. It also highlights…...

1+ mon, 1+ week ago   (223+ words) Essential Questions. As policymakers determine how much capital banks should maintain, it’s important to keep in mind some fundamental questions: July 2023: Proposal. In July 2023, the federal regulators issued a Basel capital proposal, spearheaded in large part by then-Federal Reserve Vice…...

1+ mon, 1+ week ago   (938+ words) Bank Policy Institute BPI, TCH, CBA Comment on FDIC GENIUS Act Stablecoin and Tokenized Deposit Rule The Bank Policy Institute,1 The Clearing House Association L.L.C.,2 and the Consumer Bankers Association3 submit this letter in response to the notice of proposed rulemaking (“NPR…...