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Treasury Considering Shifting FinCEN’s Policy Duties to Parent Agency, Say Sources
By Brian Monroe
printCORRECTION APPENDED: The U.S. Treasury Department is weighing whether to shift at least some responsibility for drafting anti-money laundering regulations out of the hands of the nation's financial intelligence unit, according to sources familiar with the matter. The move would involve shuffling as many as 50 employees from the policy and regulatory division of the department's Financial Crimes Enforcement Network (FinCEN) to the bureau's parent agency, the Office of Terrorism and Financial Intelligence (TFI), according to a former Treasury official who spoke on the condition of anonymity. The shift would give TFI officials more control over how regulations are drafted...
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