Anti Money Laundering

“A comment suggested a de minimis exception for businesses that lend or broker loans under a relatively low value, or low aggregate volume of transactions within a set time period. For the reasons stated above, we see no compelling reason to except any businesses or transactions based on an arbitrary, de minimis dollar amount or volume of transactions.”

" FinCEN will work with other relevant regulatory agencies in the development of consistent compliance examination procedures, and in the future will provide public notice of other agencies* that will exercise delegated compliance examination authority with respect to certain classes of RMLOs, other designated companies, and other loan or finance companies."

  • (CFPB and state and federal regulatory agencies)

"FinCEN believes that a