Industry News

Agencies  issue guidance on CIP for prepaid programs

Agencies issue guidance on CIP for prepaid programs

Interagency Guidance to Issuing Banks on Applying Customer Identification Program Requirements to Holders of Prepaid Cards. The Agencies have made clear that the money laundering and other financial crime risks faced ...

CFPB issues its Supervisory Highlights

CFPB issues its Supervisory Highlights

The CFPB issued its Supervisory Highlights, which shares findings from recent examinations in the areas of student loan servicing, remittances, mortgage origination, debt collection and consumer reporting. Check out p ...

Texas issues Supervisory Memorandum 1013 to assist MSBs

Texas issues Supervisory Memorandum 1013 to assist MSBs

The Texas Department of Banking has learned that some banks have expressed reluctance to open or maintain accounts for Money Service Businesses ( MSBs). Supervisory Memorandum 1013 authorizes a licensed MSB to make Repor ...

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