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Government Shutdown Left Agencies and Bankers Struggling with Backlogs
By Brian Monroe
printAmid all of the political rhetoric and bombast that accompanied television coverage of the 16-day government shutdown last month, one question never seemed to get any airtime: what did it all mean for the financial compliance industry? In some cases, quite a lot, say bankers and individuals familiar with the inner workings of federal agencies. In other instances, the political impasse that resulted in the furlough of hundreds of thousands of "non-essential" U.S. officials resulted primarily in temporary headaches, which were later quickly resolved. Of the problems noted by nearly a dozen individuals in the anti-money laundering (AML) and sanctions...
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