Regulations
Regulatory developments, compliance updates, and policy changes in global finance.
OCC Issues Cease and Desist Order Against Bank of America for BSA/AML and Sanctions Compliance Violations
The OCC has ordered Bank of America to overhaul its anti-money laundering and sanctions compliance programmes after issuing a formal cease and desist order.
CBN Fines Nine Nigerian Banks a Combined ₦1.35 Billion for Festive-Season ATM Cash Failures
Nigeria's central bank fined nine deposit money banks ₦150 million each — a total of ₦1.35 billion — for failing to stock ATMs with Naira during the Christmas and New Year period.
CFPB Sues Capital One for Allegedly Deceiving Consumers Over 360 Savings Interest Rates
The CFPB has filed suit against Capital One N.A. and its parent, alleging the bank misled holders of its 360 Savings account by withholding information about a higher-yielding alternative product.
UK Regulator Fines Arian Financial LLP £288,962 After Upper Tribunal Upholds AML Findings
The FCA imposed a £288,962 penalty on Arian Financial LLP after the Upper Tribunal confirmed the regulator's financial crime risk findings in November 2024.
RBI Fines Canara Bank ₹1.636 Crore for Priority Lending and Deposit Account Breaches
The Reserve Bank of India imposed a ₹1.636 crore penalty on Canara Bank on 7 January 2025 for non-compliance with priority sector lending, interest rate on deposits, and basic savings account norms.
CFPB Enforcement Registry Opens to Larger Non-Banks With January 2025 Registration Deadline
Larger non-bank financial firms supervised by the CFPB must register by 14 January 2025, disclosing government and court orders since 2017 under the bureau's new registry rule.
Qatar Central Bank Sets Graduated Enforcement Framework with Penalties Up to QAR 10 Million Per Violation
Qatar Central Bank's updated enforcement procedures establish a graduated framework escalating from formal notices to fines of up to QAR 10 million per violation.
Central Bank of Egypt's 2024 Payment Oversight Framework Sets Stage for PSO and PSP Licensing
The Central Bank of Egypt published its Payment Systems and Services Oversight Policy in March 2024, creating the supervisory foundation for comprehensive PSO and PSP licensing regulations.
South Africa's Prudential Authority Issues Directive 1 of 2025 to Modernise Bankers' Acceptance Reporting
South Africa's Prudential Authority issued Directive 1 of 2025 at the start of 2025, removing BA reporting requirements from the Regulations relating to Banks from 1 February 2025.
Oman Enacts New Banking Law Under Royal Decree No. 2/2025 With Stricter Penalties and Digital Bank Framework
Royal Decree No. 2/2025 brings Oman's banking legislation into effect from January 2025, raising fines to OMR 200,000, repealing the 2000 law, and incorporating a digital bank regulatory framework.
India's RBI Penalises Jammu and Kashmir Bank Over Basic Savings Account Compliance Failures
India's RBI has penalised Jammu and Kashmir Bank for permitting basic savings account holders to open additional savings accounts and for sanctioning loans against government subsidies.
Ethiopia's NBE Issues Directive SBB/94/2025 Opening Country to Foreign Bank Branches and Subsidiaries
The National Bank of Ethiopia introduced Directive SBB/94/2025, creating a licensing framework for foreign bank subsidiaries, branches and representative offices with a ETB 5 billion capital floor.