CFPB Head: Bad Actors Should Face More than Fines
Rohit Chopra said fines haven’t been enough of a deterrent and his agency could limit the ability of a bank or financial firm to conduct business if they violate the law.
FinCEN Proposal Would Crack Down on Anonymous All-Cash Deals
In a move that the Financial Crimes Enforcement Network said would help combat money laundering in real estate, the federal agency plans to expand the Bank Secrecy Act to require information about the individuals behind all-cash real estate transactions.
How Banks Can Help Protect Seniors’ Homes
Elder financial abuse is “widespread and damaging,” with the average victim losing $41,000, and almost one in 10 losing more than $100,000. Sadly, the culprits are most often family members, but banks have ways to protect their older clients.
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