Skip to main content
Menu Icon Menu Icon
Close

Articles

"Paycheck Protection Program poses AML compliance challenges" by Daniel P. Stipano and Benjamin W. Hutten (Bloomberg Law)

Bloomberg Law

Daniel P. Stipano, Benjamin W. Hutten

Promised relief started flowing to small businesses recently under the $350 billion Paycheck Protection Program established by the Coronavirus Aid, Relief, and Economic Security Act, but many lenders releasing funds now face a substantial compliance burden: establishing an anti-money-laundering program that will pass regulatory scrutiny.

Fulfilling that obligation may present challenges to nonbank lenders not familiar with the rigors of AML compliance.

Click here to read the full article.

Share page with AddThis