A Webinar of Pepper Hamilton LLP
Anti-Money Laundering Requirements for Residential Mortgage Originators and Brokers: What You Need to Know Now
Thursday, March 29, 2012
In a significant expansion of the reach of the Bank Secrecy Act, the Financial Crimes Enforcement Network (FinCEN), a bureau of the Department of the Treasury, recently finalized regulations requiring non-bank residential mortgage lenders and originators to establish anti-money laundering (AML) programs and file suspicious activity reports (SARs), as FinCEN requires of other types of financial institutions.
AML compliance and the filing of SARs was originally intended as a way for banks and other financial institutions to help track and stop the financing of international terrorism. Now FinCEN is requiring the same kind of vigilance by non-bank residential mortgage lenders, to help discover and report fraudulent or other suspicious activity relating to the lending and origination of residential mortgages.
Join our panel of experienced mortgage banking and regulatory lawyers to learn more about FinCEN's requirements, and what residential mortgage originators and brokers need to do now to comply.
Audrey D. Wisotsky, Partner, Pepper Hamilton LLP
Frank A. Mayer, III, Partner, Pepper Hamilton LLP
Richard J. Zack, Partner, Pepper Hamilton LLP - former chief of Commercial and Consumer Fraud Unit and deputy chief of the Economic Crimes Unit for the U.S. Attorney's Office for the Eastern District of Pennsylvania
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PDF file of the PowerPoint slides from the Webinar.