Oct 16, 2019
Next week, the House is expected to vote on two ABA-backed, bipartisan bills to modernize the anti-money laundering/Bank Secrecy Act regime. The House vote continues what has been a busy fall on BSA reforms. On the latest episode of the ABA Banking Journal Podcast — sponsored by Money Concepts International — ABA’s policy team breaks down:
- Legislative developments in the House and Senate — including Rep. Carolyn Maloney’s Corporate Transparency Act (H.R. 2513), Rep. Emanuel Cleaver’s Counter Act (H.R. 2514) and Sens. Mark Warner and Tom Cotton’s Illicit Cash Act (S. 2563) — and what they will mean for compliance and financial crimes professionals.
- Anticipated changes from federal regulators and the Financial Crimes Enforcement Network, including possible changes to the BSA examination manual.
- Efforts by regulators and FinCEN to promote innovation in AML/BSA monitoring and enforcement.