BSA/AML Enforcement gets Lighter Touch
Responding to longstanding industry requests, the federal banking agencies and NCUA today updated their BSA/AML enforcement guidance to make it clear to industry and examiners alike that isolated or technical violations or deficiencies generally do not warrant mandatory cease and desist enforcement actions.

Brainard Charts Slow, but Determined Course to CBDC
In tandem with an update from the Fed, FRB Gov. Lael Brainard today announced a new Fed approach to developing CBDC, making it clear that the U.S. central bank is moving – if only very slowly and tentatively – to action already well under way in many other central banks. The Fed’s initial work – which Gov. Brainard said will take years – begins with a formal research and experimentation program announced today with MIT.

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