Midweek Roundup: US House Again Approves BSA Reform, Treasury Sanctions Unit Set for Wholesale Audit Under Biden, and More

U.S. House lawmakers overwhelmingly approved a defense spending bill that includes a raft of reforms to the nation's beneficial ownership and anti-money laundering regime, and is expected to clear the Senate by Friday, The New York Times reported. More The legislation would establish a program to pay monetary rewards to individuals that blow the whistle on violations of the Bank Secrecy Act, The Wall Street Journal reported. More President-elect Joe Biden's pick for the number two spot at the U.S. Treasury Department plans to conduct a wholesale review of the Office of Terrorism and Financial Intelligence, sources told Bloomberg. More...