Statement of CFPB Director Rohit Chopra, Member, FDIC Board of Directors, on the FDIC's Policy Regarding the Annunzio-Wylie Anti-Money Laundering Act of 1992
December 17, 2024
December 17, 2024
WASHINGTON, Dec. 17 -- The Consumer Financial Protection Bureau issued the following news release:
When an insured bank is criminally convicted, that is not only a breach of law, but also an abrogation of the public trust that is fundamental in banking. When it involves money laundering, we have a clear directive to consider whether a bank should maintain its status as an insured institution.
In the 1980s and early 1990s, Congress was appalled by how permissive banks we . . .
When an insured bank is criminally convicted, that is not only a breach of law, but also an abrogation of the public trust that is fundamental in banking. When it involves money laundering, we have a clear directive to consider whether a bank should maintain its status as an insured institution.
In the 1980s and early 1990s, Congress was appalled by how permissive banks we . . .