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Tag Archives: Michael Clements
Fighting Money Laundering with the Bank Secrecy Act
Money launderers beware: The Financial Crimes Enforcement Network (FinCEN)—an agency within the Department of Treasury—has many ways of collecting information on financial activities, making life harder for criminals to hide their illicit cash. Today’s WatchBlog looks at 2 recent reports … Continue reading
How Do Environmental, Social, and Governance Factors Relate to Investing?
Nonfinancial information about how companies operate can be an indicator of their long-term financial performance. This information includes how companies address environmental, social, and governance (ESG) factors. ESG factors include things like climate change impacts and cybersecurity programs that may … Continue reading
Deterring Financial Crime with the Bank Secrecy Act
Money laundering, terrorist financing, and other illicit activities pose threats to national security and the integrity of the U.S. financial system. The Bank Secrecy Act (BSA) requires financial institutions—such as banks and money transmitters—to verify customers’ identities and report suspicious … Continue reading
Posted in Financial Markets and Institutions
Tagged Anti-money laundering, Bank examination, Bank secrecy, Bank supervision, Compliance oversight, crime, Crime prevention, Electronic funds transfer, FBI, Federal Reserve, Financial Crimes Enforcement Network, financial institutions, Financial Markets and Community Investment, financial regulation, financial regulators, Financial services regulation, law enforcement, Michael Clements, money laundering, Regulatory burden, Suspicious activities, Treasury Department, White collar crime
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Bank Supervision: What’s Changed Since the Financial Crisis
When big banks failed during the 2007–2009 financial crisis, it wasn’t a complete surprise. Federal bank supervisors had found underlying risks at those banks, but didn’t always act on those findings to help banks be better actors. Today’s WatchBlog looks … Continue reading
Posted in Financial Markets and Institutions
Tagged bank regulations, big banks, CAMELS, Dodd-Frank, FDIC, Fed, Federal Deposit Insurance Corporation, Federal Reserve, financial crisis, financial markets, financial regulation, FMCI, Michael Clements, OCC, office of the comptroller of the currency, regulation, risk assessment, stress test, supervisors, too big to fail
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Credit Reporting Agencies and You
If you’ve ever signed up for a credit card or taken out a loan to buy a car, the credit card company or bank has probably checked your credit report to see if you qualify. But where does the information … Continue reading
Filing Taxes without Breaking the Bank
As you may have noticed this tax season, there’s no shortage of options for filing your taxes. For those who need it, IRS has several options to file taxes (or receive tax preparation assistance) for free. Today’s WatchBlog looks at … Continue reading
Big bank regulators at risk of influence?
“Regulatory capture”—when regulators act in the interest of the industry they’re regulating, rather than the public good—is a big concern, especially when it comes to big banks. Today’s WatchBlog explores how it happens and what regulators can do to protect … Continue reading
Posted in Business Regulation and Consumer Protection, Financial Markets and Institutions
Tagged banking industry, banks, big banks, FMCI, independence, internal controls, Michael Clements, OCC, office of the comptroller of the currency, regulatory, regulatory capture, revolving door
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Risks and Benefits of Fintech Lending
Financial technology (fintech) refers to the use of technology and innovation to provide financial products and services—and fintech lending is a growing part of this field. Fintech lenders are nonbank firms that operate online and may use “alternative data,” including … Continue reading
What You Should Know About Event Ticketing
Buying tickets to see your favorite band can be a frustrating experience. Tickets often sell out quickly, only to appear soon after on resale sites at high prices. And when you buy your tickets, you may be hit with high … Continue reading
Posted in Business Regulation and Consumer Protection, Podcast
Tagged brokers, event tickets, fees, FMCI, Michael Clements, sales, ticketing
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