Skip to content

Can we still de-risk customers?

Answered by: 

Question: 
Our examiners want us to bank some money service businesses. Can’t we decide who to bank?
Answer: 

We are being encouraged to look at each customer instead of de-risking groups of customers. So yes, you can still decide who to bank but be careful with practices that take away banking services to entire groups of customers.

-----------------------------------

Learn more about Deborah Crawford’s Alert! Beneficial Ownership Final Rule for Companies webinar.

First published on 10/30/2022

Search Topics