Articles

Federal Reserve Amends Regulation D to Remove Transfer Limits

August 20, 2020 - 4 min read

On April 28, 2020 (85 FR 23445), the Board of Governors of the Federal Reserve System (the “Federal Reserve”) amended Regulation D, Reserve Requirements of Depository Institutions, to delete the numeric limits on certain kinds of transfers and withdrawals that may be made each month from “savings deposits.” The amendments are intended to allow depository institution…

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Joint Statement on Risk-Focused BSA/AML Supervision

December 18, 2019 - 1 min read

In July 2019, the OCC, FDIC, Federal Reserve, the NCUA, and FinCEN issued a joint statement to emphasize their risk-focused approach to examinations of banks’ Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance programs. This statement is being issued as part of a broader effort to reinforce and enhance the effectiveness and efficiency of the BSA/AML regime….

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