The U.S. regulator of national banks has moved quickly to address congressional criticisms raised in July that it laxly enforces anti-money laundering rules, according to federal officials and compliance officers.
U.S. banks could be required to deny credit card transactions from foreign financial institutions linked to tax evaders under a measure introduced Tuesday by the chairman of the Senate Permanent Subcommittee on Investigations.
The head of a powerful U.S. Senate panel is pushing to include new corporate transparency measures as part of broader financial reform legislation, according to former and current staffers.
Mike Flowers, a former counsel to the Permanent Subcommittee on Intelligence, discusses the committee's hearing on tax evasion by UBS AG and LGT Bank, in the second half of a two-part interview.
print