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FDIC Imposes a New Speed Bump for Bank Involvement in Digital Asset Activities

USA - April 11 2022 In the latest effort by a federal banking regulator to address risks related to bank involvement in the crypto sector without providing meaningful…

Joel D. Feinberg, Michael D. Lewis, C.K. Kevin Park, Kristin S. Teager

U.S. Treasury Study of Money Laundering Risks in the Art World Focuses on NFTs

USA - February 11 2022 On February 4, 2022, the U.S. Department of the Treasury (Treasury) published a study of money laundering and terror financing risks associated with…

C.K. Kevin Park, Kristin S. Teager, Lilya Tessler

Federal Bank Regulators Require Notifications For Material Cybersecurity Incidents

USA - November 22 2021 On November 18, 2021, a group of federal bank regulators announced a final rule requiring banks to notify their primary federal regulator of any…

Colleen Theresa Brown, Michael D. Lewis, Alan Charles Raul, Vishnu Tirumala

U.S. President’s Working Group on Financial Markets Releases Its Stablecoin Report

USA - November 5 2021 On November 1, 2021, the President’s Working Group on Financial Markets (PWG)1, along with the Federal Deposit Insurance Corporation (FDIC) and the…

Jay G. Baris, Daniel Engoren, C.K. Kevin Park, Kristin S. Teager, Lilya Tessler

FFIEC Guidance on Authentication and Access to Financial Institution Services and Systems

USA - August 17 2021 On August 11, 2021, the Federal Financial Institutions Examination Council (FFIEC) issued guidance establishing risk management principles and…

Joel D. Feinberg, Michael D. Lewis, Thomas G. Ward