A proposal that would restrict the authority of executive agencies and bureaus to promulgate rules is gaining steam in Congress, potentially creating limits on the ability of federal regulators to issue anti-money laundering, counterterrorist financing and other regulations going forward. Sen. Rob Portman (R-OH) plans within weeks to reintroduce a bill that would overhaul federal rulemaking by all federal agencies and departments, including the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency. The senator is "optimistic" the measure will receive bipartisan support after the House of Representatives approved a similar bill last...
The U.S. Treasury Department finalized its long-awaited customer due diligence rule Friday shortly after the introduction by the White House of a bevy of corporate transparency-related measures.
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