BANK Wire – Is your BSA/AML program up to date?

Description

Abstract: A bill introduced in Congress would make it easier for the government to hold individual bank officers and directors personally liable for a financial institution’s Bank Secrecy Act / Anti-Money Laundering violations. This issue’s BANK Wire also includes an item on preparing for the new capital rules under the Basel III capital framework, which take effect in 2015. A third brief highlights a report from the Consumer Financial Protection Bureau, which summarizes nearly 400,000 consumer complaints the agency handled over the last three years.