Are we seeing the demise of de-risking?

Overview: 

During this webinar we will cover the Treasury’s 2023 De-Risking Strategy, as mandated by Congress in the Anti-Money Laundering Act of 2020. The first of its kind, the Strategy examines the phenomenon of financial institutions de-risking and its causes, and it identifies those greatest impacted. It also offers recommended policy options to combat it, including the possibility of regulations to mitigate the effects of de-risking.

De-risking occurs when financial institutions terminate or restrict business relationships indiscriminately with broad categories of customers rather than analyzing and managing the risk of those customers. De-risking undermines several key U.S. government policy objectives by driving financial activity out of the regulated financial system, hampering remittances, preventing low- and middle-income segments of the population from efficiently accessing the financial system, and preventing the unencumbered transfer of humanitarian aid and disaster relief.

The Strategy represents a balancing act between shaping a safer, more transparent, and more accessible financial system, and maintaining a robust framework to protect the U.S. financial system from illicit actors and bolstering national security.

We will examine the future impact and what you should do and know.

Learn more about:

-AML Act of 2020 Mandate to study de-risking 

-The problem of de-risking 

-Who gets de-risked?

-How do you know if you are de-risking?

-The regulatory environment especially BSA 

-Key findings on de-risking 

-Adverse Consequences of de-risking 

-Strategy of the Treasury

Who should attend?  BSA, Compliance, Operations, Risk, Senior Management, Your Board of Directors, Loan Officers