Weekly Roundup: FinCEN Issues Foreign MSB Guidance, Bitcoin Exchange Shuts Down Over Regulatory Concerns, and More

The U.S. Treasury Department's Office of the Comptroller of the Currency (OCC) disclosed enforcement actions against three banks Friday. The agency ordered Edinburg, TX-based First National Bank to implement a written Bank Secrecy Act (BSA) program and bolster its customer identification and due diligence procedures, among other changes. More Connecticut-based Naugatuck Valley Savings and Loan agreed to better identify risky clients and develop sanctions screening for non-customers. More The OCC entered into an agreement with Oakland Park, FL-based American National Bank, requiring the bank to improve its transactional monitoring and suspicious activity reporting controls. More The Treasury Department's Financial Crimes...