On April 14, 2025, PYMNTS reported that Bank of America is set to pay $540.3 million following a judge’s ruling in a lawsuit where the FDIC accused the bank of underpayment for deposit insurance.

Apr 15
Apr 15 FinCEN Renews Real Estate Geographic Targeting Orders

Adam Witmer

Regulatory Update, BSA

On April 14, 2025, the FinCEN renewed its Geographic Targeting Orders (GTOs) that require US title insurance companies to identify natural persons behind shell companies used in non-financed purchases of residential real estate. The terms of the GTOs are effective beginning April 15. 2025, and ending on October 9, 2025.

Apr 14
Apr 14 CFPB Drops Lawsuit Against MoneyGram

Adam Witmer

Regulatory Update

On April 8, 2025, Reuters reported that the CFPB has asked a federal court to withdraw from the agency's own 2022 case against MoneyGram. This action leaves the New York attorney general as the sole plaintiff.

Apr 14
Apr 14 Treasury Hosts Event on U.S. Maximum Pressure Campaign with Financial Institutions and Law Enforcement

Adam Witmer

Regulatory Update, BSA

On April 2, 2025, U.S. Secretary of the Treasury Scott Bessent led a public-private partnership event with 16 systemically important global financial institutions and federal law enforcement agencies, focused on denying Iran access to the global financial system. This event is part of FinCEN’s “Iran Maximum Pressure and Counter Terrorism” (or IMPACT) Exchange series.

Apr 11

Apr 11 VIDEO: What is the FCRA?

Adam Witmer

FCRA

In this Compliance Clip (video), Adam provides a brief overview of the Fair Credit Reporting Act or FCRA. He describes how this longstanding law protects consumers and regulates the practices of both consumer reporting agencies and the users of their data. A transcript of this video is now available.

Apr 10
Apr 10 FinCEN’s Analysis of Fentanyl-Related Threat Patterns and Trends in BSA Reports

Adam Witmer

BSA, Regulatory Update

On April 9, 2025, FinCEN issued a Financial Trend Analysis focused on patterns and trends identified in BSA data linked to fentanyl-related illicit finance. The BSA data filed between January and December 2024 included 1,246 reports identifying suspected fentanyl-related activity including precursor chemical procurement, fentanyl trafficking, and fentanyl-linked money laundering.

Apr 9
Apr 9 OCC Updates Contact Information for Certain CRA, FHA, ECOA Notices and Posters

Adam Witmer

CRA, Fair Lending, Regulatory Update

On April 8, 2025, the OCC issued a Bulletin to inform banks of the appropriate names and addresses for notices required by the CRA and ECOA and for posters required by the FHA. Banks must implement the necessary changes within 90 days of the bulletin's issuance date.

Apr 8
Apr 8 CFPB to Initiate New Rulemaking Process for Section 1071

Adam Witmer

Regulatory Update

On April 3, 2025, the ABA Banking Journal reported that the CFPB said in a court filing that its leadership has directed staff to initiate new rulemaking to implement Section 1071 of the Dodd-Frank Act and plans to soon release a proposal to possibly replace or change its current rule. The CFPB filed to the District Court for the Southern District of Florida an unopposed motion to stay the section 1071 rule and hold proceedings in abeyance.

Apr 7
Apr 7 FinCEN Issues Advisory on the Financing of ISIS

Adam Witmer

BSA, Regulatory Update

On April 1, 2025, FinCEN issued an Advisory to assist financial institutions in identifying and reporting suspicious activity related to the financing of the Islamic State of Iraq and Syria (ISIS). The Advisory outlines how ISIS funds itself through international support and various money transfer methods and also provides red flags for financial institutions to identify suspicious activity.

Apr 7
Apr 7 FDIC Updates Risk Manual of Exam Policies

Adam Witmer

Regulatory Update

On March 27, 2025, the FDIC released an update to its Risk Management Manual of Examination Policies. In particular, the section “Other Assets and Liabilities” was updated.

Apr 15
Apr 15 Bank of America to Pay $540.3 Million After Ruling in FDIC Lawsuit

Apr 15
Apr 15 FinCEN Renews Real Estate Geographic Targeting Orders

Apr 14
Apr 14 CFPB Drops Lawsuit Against MoneyGram

Apr 14
Apr 14 Treasury Hosts Event on U.S. Maximum Pressure Campaign with Financial Institutions and Law Enforcement

Apr 11 VIDEO: What is the FCRA?

Apr 10
Apr 10 FinCEN’s Analysis of Fentanyl-Related Threat Patterns and Trends in BSA Reports

Apr 9
Apr 9 OCC Updates Contact Information for Certain CRA, FHA, ECOA Notices and Posters

Apr 8
Apr 8 CFPB to Initiate New Rulemaking Process for Section 1071

Apr 7
Apr 7 FinCEN Issues Advisory on the Financing of ISIS

Apr 7
Apr 7 FDIC Updates Risk Manual of Exam Policies

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