Participants in the EU-U.S. Joint Financial Regulatory Forum highlighted cross-border interagency coordination on (i) financial stability, (ii) climate-related financial risks, (iii) banking and insurance regulation and supervision, (iv) capital markets, (v) operational resilience, (vi) digital finance and (vii) AML/CFT compliance.
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The Federal Reserve Board, the FDIC, FinCEN, the NCUA and the OCC reminded banks to apply a risk-based approach when assessing customer relationships and conducting customer due diligence on anti-money laundering risks.
A federal savings bank settled OCC charges and FinCEN charges for violating Bank Secrecy Act regulations and failing to adequately implement anti-money laundering programs.
FinCEN and the OCC penalized a Texas-based bank for willful violations of the Bank Secrecy Act and its implementing regulations.
Staff of the Inter-Agency Working Group on Market Surveillance proposed six guiding principles to reform Treasury market policy to increase market resiliency.