In today’s evolving financial services landscape, where fintech, payments, and compliance increasingly overlap, FBO accounts have become a recurring focal point. For banks, fintech startups, and licensed money transmitters, understanding how these accounts operate and how they connect to licensing requirements is essential. The following will break down what FBO accounts are, who uses them, […]
On July 18, 2025, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act was signed into law, marking the first comprehensive federal regulatory framework governing payment stablecoins in the United States. For anti-money laundering (AML)/combating the financing of terrorism (CFT) professionals, fintech executives, and compliance officers, the GENIUS Act is not just crypto […]
Most banks will request an Independent Review from their Money Services Business clients annually. Here is the reason why… Banks, just like check cashers, money transmitters and other MSBs, are audited frequently. However, banks are audited by government entities. GOVERNMENT ENTITIES AUDITING BANKS Office of the Comptroller of the Currency (OCC) Federal Deposit Insurance Corporation […]
