AML Developments – FDIC Announces That It Will End Its Supervisory Trend of Expecting Regulated Institutions to ‘De-Risk’ Entire Categories of Customers

By Jennifer H. Weddle & Greenberg Traurig on January 30, 2015

On Jan. 28, 2015, the Federal Deposit Insurance Corporation (FDIC) in a Financial Institutions Letter (FIL) announced that it would, in effect, do an about-face on its supervisory expectation that banks strongly consider discontinuing the provision of financial services to entire categories of certain purportedly high-risk customers. These categories of customers included, to name a…