This guidance outlines steps FIs can take to reduce the risk of EAR violations. Key recommendations include implementing due diligence best practices, conducting ongoing transaction reviews for red flags, and clarifying which real-time transaction screenings are...

The Office of Foreign Assets Control (OFAC) has issued guidance to address questions raised by recent legislation that extended the statutes of limitation for violations of certain sanctions that the agency administers from 5 to 10 years. This means that OFAC may be...

On July 18, 2024, the U.S. Department of the Treasury (Treasury) submitted identical letters to U.S. Representatives Josh Gottheimer (D-N.J.), Brad Sherman (D-Calif.) and Blain Luetkemeyer (R-Mo.), warning that recently enacted state laws prohibiting banks from making...

On July 11, 2024, starting at 11:00 AM, LARA will hold a panel discussion with the Florida Office of Financial Regulation (OFR) to discuss concerns raised in our Comment Letter and other implementation issues arising out of the rules and forms proposed...

The Financial Crimes Enforcement Network (FinCEN) has issued a notice of proposed rulemaking (NPRM) to strengthen and modernize financial institutions’ anti-money laundering and countering the financing of terrorism (AML/CFT) programs. On January 1, 2021, Congress...

Florida Governor DeSantis signs Florida House Bill 989 into Law, Creating a Customer Complaint and Investigation Process for House Bill 3, and Expanding the Applicability of House Bill 3 to a Broader Set of Financial Institutions.  On May 2, 2024,...

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN), in close coordination with the U.S. Department of State’s Diplomatic Security Service (DSS), is issuing this Notice to financial institutions urging them to be vigilant in identifying...

MIEMBRO DEL MES DE FIBA FIBA reconoce a los miembros que realizan contribuciones significativas a nuestra misión. El Miembro del Mes de FIBA de marzo es Michael Laffont. Conozca a Michael Laffont, el co-presidente del Comité NextGen de FIBA y Senior II en la...

Dear FIBA Member, On Feb. 15, 2024, the Florida House of Representatives unanimously passed (118 YEAS / 0 NAYS) an amended version of Florida House Bill 585 (“HB 585”). As you know from our previous alerts and programs, the original version of HB 585 would...

FIBA’s LARA Committee is kicking off 2024 with an important panel discussion that will cover in-depth some of the most critical legal and regulatory topics that our members should be considering this year.  Topics will include:  The Corporate Transparency...

Dear FIBA Members,  Happy New Year!  I hope that you all enjoyed a restful and joyous holiday. As we stand on the threshold of 2024, I am thrilled to extend my warmest wishes to each and every one of you as your new Chair. I am humbled by the...

Important Update: The LARA Meeting originally set for January 16th to discuss the impact of HB 585 is now rescheduled to February 7, 2024. The agenda has been expanded to include: The Corporate Transparency Act (which went into effect 01/01/2024);   The Beneficial...

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This content is only available for FIBA Members > Not a member? Become a FIBA member

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