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FinCEN

Money Remittance Improvement Act Eases Regulatory Requirements for MSBs

BSA  •  FinCEN  •  Money Transmission  •  Small Dollar Lending/Lenders  •  U.S. House  •  U.S. Senate
On August 1, Congress passed the Money Remittances Improvement Act of 2014 (signed by President Obama on August 8, 2014), which reduces regulatory hurdles and duplication between state and federal regulation of money services businesses.  Specifically, […]

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GAO Report: Consumer Protections Against Virtual Currency Risks Still Lacking; CFPB Should Step In

BSA  •  CFPB  •  DOJ  •  FinCEN  •  SEC  •  Virtual Currency
On June 26, 2014, the Government Accountability Office (GAO) issued a report entitled “Virtual Currencies: Emerging Regulatory, Law Enforcement, and Consumer Protection Challenges.”  The report discusses the benefits and disadvantages of virtual currency and reviews […]

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