FinCEN

President Donald Trump signed an executive order Tuesday directing federal financial regulators to treat undocumented immigrants as potential credit and compliance risks.

Russian intelligence-linked hackers who penetrated the U.S. Treasury Department in the 2020 SolarWinds cyberattack gained the ability to access email accounts across the entire agency, including staff working on sanctions and financial-crime investigations.

The U.S. Treasury Department on Monday issued an alert urging financial institutions to step up their detection of money laundering, sanctions evasion, and digital-asset transfers tied to Iran’s Islamic Revolutionary Guard Corps (IRGC).

President Donald Trump on Friday signed an executive order authorizing penalties against foreign banks and other companies anywhere in the world that do business with the Cuban government. 

U.S. banks have heard little from the Trump administration about the scope of an expected executive order that would require them to collect citizenship or immigration-status data on their customers, leaving the industry warning of multibillion-dollar costs and the prospect of millions of Americans being shut out of the banking system.

The Trump administration’s decision to reclassify marijuana as a less dangerous drug marks a milestone for the cannabis industry, but experts and executives say it falls well short of ending the sector’s longstanding exile from the mainstream financial system.

A Republican-led U.S. House committee voted on Tuesday to advance legislation that would exempt American limited liability companies and other businesses from reporting on their beneficial owners under the Corporate Transparency Act.

U.S. House Republicans are threatening to block all funding for the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) until the agency finalizes a rule requiring companies to report beneficial ownership information.

The U.S. Treasury Department on Wednesday proposed new anti-money-laundering and sanctions-compliance rules for permitted payment stablecoin issuers, marking a major step in implementing the 2025 GENIUS Act and expanding federal oversight of the sector.

The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Tuesday proposed a broad rewrite of anti-money-laundering and counterterrorism-financing rules that would shift the focus of compliance from technical box-checking to whether a financial institution’s controls are actually effective.