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Compliance Management - Banking Exchange
Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation and the OCC
Money laundering and other types of financial crime have plagued the financial industry for years
OCC, Board, FDIC will require banks to report incidents within 36 hours
Annual report reveals regulations aimed at digital currencies and securing digital economies
Lack of supervision could pose medium to long term risk to consumers, businesses, and financial stability
Report calls for “consistent and comprehensive regulatory framework”
No new exposures to the legacy lending reference rate will be permitted after December 31
Joint letter is part of regulatory body’s push to reject proposal
App-based neobank Monzo has yet to make a profit in the UK
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