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2.34 MB
Extraction Summary
0
People
5
Organizations
1
Locations
1
Events
1
Relationships
3
Quotes
Document Information
Type:
Regulatory compliance guide / report page
File Size:
2.34 MB
Summary
This document is page 20 of a regulatory guide produced by Protiviti, stamped with a House Oversight Bates number. It outlines various enforcement actions available to U.S. regulators regarding Anti-Money Laundering (AML) compliance, ranging from Commitment Letters and MOUs to Civil Money Penalties and the so-called 'Death Penalty' (charter revocation). It also defines the enforcement authority of FinCEN and mentions Deferred Prosecution Agreements.
Organizations (5)
| Name | Type | Context |
|---|---|---|
| FinCEN | ||
| Consumer Financial Protection Bureau | ||
| CFPB | ||
| Protiviti | ||
| House Oversight Committee |
Locations (1)
| Location | Context |
|---|---|
Key Quotes (3)
"Regulators have a range of enforcement tools available to address AML Compliance Program deficiencies and violations of AML laws and regulations."Source
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Quote #1
"Under the Annunzio-Wiley Act of 1992, bank regulators have the option – in fact, are obligated to consider – whether the license/charter of a depository institution that is found guilty or pleads guilty to money laundering charges should be revoked. The revocation of a license/charter is known as the 'Death Penalty.'"Source
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Quote #2
"FinCEN does have enforcement action authority, which it often uses in conjunction with a financial institution's functional regulators."Source
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Quote #3
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