On July 14, 2026, a split 9th U.S. Circuit Court of Appeals panel affirmed a preliminary injunction barring enforcement of the Financial Crime Enforcement Network’s (FinCEN) border geographic targeting order (GTO), the rule requiring money service businesses (MSBs) along the U.S.-Mexico border to file currency transaction reports on cash transactions as low as $200. Writing
On May 28, 2026, Secretary of State Marco Rubio announced that the U.S. Department of State designated Comando Vermelho (CV) and Primeiro Comando da Capital (PCC), Brazil’s two largest and most violent criminal organizations, as Specially Designated Global Terrorists (SDGTs) under Executive Order 13224 and as Foreign Terrorist Organizations (FTOs) under Section 219 of the
On May 11, 2026, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an alert designed to help financial institutions identify and disrupt funding streams and procurement networks supporting Iran’s Islamic Revolutionary Guard Corps (IRGC). The alert arrives at a moment of intensified U.S. economic pressure on the Iranian regime — part
Two recent guilty pleas by former TD Bank employees — Oscar Marcel Nunez-Flores and Wilfredo Aquino — are a timely reminder that insider-enabled money laundering can defeat control frameworks if banks do not actively design for, detect, and deter employee misconduct. These cases come on the heels of TD Bank’s October 2024 criminal guilty plea
In a historic move that signals a new era in the fight against illicit opioid trafficking and money laundering, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued its first-ever orders under the newly enacted Section 2313a of the Fentanyl Sanctions Act, as amended by the FEND Off Fentanyl Act. These
The Trump administration remains focused on countering Mexican cartels and other Latin American transnational criminal organizations (TCOs). Since designating eight TCOs as foreign terrorist organizations (FTOs), the Financial Crimes Enforcement Network (FinCEN) and Department of Justice (DOJ) have issued alerts and prosecutorial guidance respectively reinforcing the administration’s whole-of-government approach to countering this threat. As with
On March 11, 2025, the Treasury Department’s Financial Crimes Enforcement Network (FinCEN) issued a Geographic Targeting Order (GTO) aimed at disrupting drug trafficking and money laundering along the southwestern border. The GTO significantly lowers the Currency Transaction Reports (CTR) threshold from $10,000 to $200 for money service businesses (MSBs) operating in 30 zip codes across
On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) finalized its long-anticipated rule implementing Section 1033 of the Dodd-Frank Act. The 594-page final rule arrives nearly one year after the CFPB’s proposed rule, which received over 11,000 comments from industry participants concerning its implementation. The rule requires institutions that issue credit cards and hold
FDIC-insured depository institutions seeking CRA credit opportunities may be eligible to apply for funding to further impact the distressed communities they serve. On March 31, 2023, the Department of Treasury’s Community Development Financial Institutions Fund (CDFI Fund) opened its fiscal year 2023 funding applications for its Bank Enterprise Award (BEA) Program. This year’s program includes
On May 21, 2021, the Consumer Financial Protection Bureau (CFPB) and 3rd Generation, Inc. d/b/a California Auto Finance entered into a Consent Order in which the CFPB alleged unfair acts or practices in connection with an auto finance add-on product.
According to the Consent Order, 3rd Generation purchases and services