US Treasury develops nonbank mortgage lender rules

July 15th, 2009


WASHINGTON – Cash reporting requirements for U.S. banks may be expanded to non-bank residential mortgage lenders and originators, a federal agency that polices financial crimes said on Wednesday.

The Financial Crimes Enforcement Network (FinCEN), a division of the Treasury Department, notified the mortgage industry that it is considering whether to move ahead with proposed anti-money laundering and suspicious activity reporting regulations.

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