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Operation Choke Point was an initiative of the United States Department of Justice beginning in 2013 [1] which investigated banks in the United States and the business they did with firearm dealers, payday lenders, and other companies that, while operating legally, were said to be at a high risk for fraud and money laundering.
(Reuters) -A U.S. appeals court has halted enforcement of an anti-money laundering law that requires corporate entities to disclose the identities of their real beneficial owners to the U.S ...
The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all national banks and federal thrift institutions and the federally licensed branches and agencies of foreign banks in the United States. [2]
The Financial Crimes Enforcement Network (FinCEN) is a bureau within the United States Department of the Treasury that collects and analyzes information about financial transactions to combat domestic and international money laundering, terrorist financing, and other financial crimes.
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The OCC claimed that the 1864 National Bank Act bars states from enforcing their own laws against national banks. Justice Scalia stated in the opinion that while the OCC has "visitorial powers," the right to examine the affairs of a corporation, that does not mean that it has the exclusive right to enforcement. "A sovereign's 'visitorial powers ...
After a calamitous 2022 that included the implosion of FTX, enforcement actions by the Securities and Exchange Commission against crypto firms hit a record high in 2023, according to a new report ...
The Bank was already under a consent order from 2012 (2012-160) which required Lone Star National Bank to undertake remedial actions with respect to its BSA/AML program. [ 5 ] An additional consent order (2015-029) [ 6 ] was issued on March 31, 2015, in regards to serious deficiencies in Lone Star National Bank's lending practices. [ 7 ]