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Steven Lofchie Commentary by Steven Lofchie

House Financial Services Ranking Member Maxine Waters criticized recent Supreme Court rulings for "significantly weaken[ing] the ability of the federal government to protect our consumers and investors, our housing and financial markets, our food supply, healthcare, and even the air we breathe or the parks we visit."

FinCEN proposed amending existing regulations to explicitly "require financial institutions to establish, implement, and maintain effective, risk-based, and reasonably designed AML/CFT programs with certain minimum components, including a mandatory risk assessment process."