State Regulators Favor AML, SAR Rules for Non-Bank Originators
August 31, 2009
State regulators are backing a proposal by the Treasury Department’s Financial Crimes Enforcement Network to extend anti-money laundering and suspicious activity report regulations to non-bank mortgage lenders and originators. Saying the move is long overdue, the Conference of State Bank Supervisors said requiring mortgage lenders and originators to meet FinCEN’s reporting requirements would help...