Now that the Democrats have taken control of the Senate, the compliance agenda is revitalized. Already topics such as predatory lending and money laundering are on the legislative plate. Congress is now struggling to define predatory lending and limit the ways that U.S. financial institutions may do business with foreign institutions to give more teeth to money laundering controls.
Privacy, of course, is on the plate of all parties. Stay alert while Congress debates the merits of Opt-In and other forms of increased privacy protection.
Copyright © 2001 Compliance Action. Originally appeared in Compliance Action, Vol. 6, No. 11, 9/01
First published on 09/01/2001