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PPP is Not a Free Lunch for Banks

During the post-prohibition era in the 1930s, bars offered free lunches to their patrons to get them to buy drinks. 40 years later, Milton Friedman famously summed up the study of economics with the quip – “There is no such thing as a free lunch” or TINSTAFL for short.  Now, 50 years later bankers and borrowers alike are recalling TINSTAFL in looking at PPP.

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Topics: banking, banking regulation, fintech, Comminity Banks, risk management, PPP, paycheck protection

Treasury's Strategy 2020 - A Risk-based Approach to AML

Last week, the US Department of Treasury published its 2020 Strategy document that "employs a whole-of-government approach to guide the public and private sectors in addressing 21st century illicit finance challenges."  The report highlights the risk-based approach as central to the 2020 Strategy. 

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Topics: machine learning, money laundering, mathematical models, risk management, AML/BSA/CFT, regulatory compliance, agile compliance

Agile Compliance and Machine Learning

 

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Topics: regtech, machine learning, risk management, AML/BSA, regulatory compliance, agile compliance, AML/BSA/CTF

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