# Kredo Review

> Kredo Review is an independent publication covering Bank regulators & general banking. Focus: Consumer credit, AML and Treasury policy. Published by Independent Journal; sponsored by Adamson Brothers Corp. (see the About page). Articles are drafted from primary sources with AI assistance and reviewed under our editorial policy. Not investment advice.

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## Sections
- [Latest news](https://kredoreview.com/): newest articles first
- [Guides](https://kredoreview.com/guides/): evergreen explainers
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## Guides
- [What the CFPB does: a guide to the consumer finance regulator](https://kredoreview.com/what-the-cfpb-does/): What the CFPB does, from rulemaking and supervision to enforcement, complaint handling and consumer education, and how it fits with other financial regulators.
- [How credit scores work: factors, reports and consumer rights](https://kredoreview.com/how-credit-scores-work/): How credit scores work: what goes into a credit report, which factors move a score, who uses scores and what consumer credit regulation lets you dispute.
- [Know-your-customer (KYC) requirements explained](https://kredoreview.com/know-your-customer-kyc-requirements-explained/): Know-your-customer (KYC) requirements explained: customer identification, the FinCEN customer due diligence rule, beneficial ownership and ongoing monitoring.
- [The Bank Secrecy Act and AML rules explained](https://kredoreview.com/the-bank-secrecy-act-and-aml-rules-explained/): The Bank Secrecy Act and AML rules explained: what the BSA requires, how SARs and CTRs work, who must comply, and how FinCEN guidance shapes AML compliance.

## Recent articles
- [OCC's $750M Bank of America Penalty Raises AML Compliance Bar](https://kredoreview.com/occ-bank-of-america-aml-compliance-penalty/) (2026-10-14): The OCC fined Bank of America, N.A. $750 million for Bank Secrecy Act violations, the largest penalty in the agency's history. What it means for AML compliance.
- [AML compliance failures cost American Express $350 million](https://kredoreview.com/american-express-aml-penalty-occ-350-million-fed-order/) (2026-10-08): The OCC fined American Express National Bank $350 million over BSA and AML failures tied to about $13 billion of suspected laundering; the Fed issued an order.
- [Financial literacy strategy 2026 sets four priorities, OCC says](https://kredoreview.com/national-strategy-financial-literacy-2026-occ-flec/) (2026-10-05): The 2026 update to the U.S. National Strategy for Financial Literacy sets four priorities: youth capability, saving and investing, digital literacy and scams.
- [Consumer Credit Regulation Meets Financial Literacy at CFPB](https://kredoreview.com/cfpb-financial-literacy-strategy-consumer-credit-regulation/) (2026-10-02): The CFPB says it backs a new National Strategy for Financial Literacy covering youth skills, saving and investing, digital literacy and fraud. Here's what we know.
- [Bank trading revenue Q2 2026: OCC reports $21.6 billion](https://kredoreview.com/bank-trading-revenue-q2-2026-occ-derivatives/) (2026-09-30): OCC data show bank trading revenue of $21.6 billion in Q2 2026, with derivative notional amounts at $300.5 trillion and four large banks holding 80.2 percent.
- [Comptroller opposes American Express resolution plan feedback](https://kredoreview.com/comptroller-vote-american-express-resolution-plan-feedback/) (2026-09-29): Comptroller Jonathan Gould voted against joint FDIC and Fed resolution plan feedback for American Express and urged ending 165(d) plans below $250 billion.
- [GENIUS Act stablecoin rules: Fed proposes reserve, capital terms](https://kredoreview.com/genius-act-payment-stablecoin-proposals-federal-reserve/) (2026-09-24): The Fed proposed reserve, capital, custody and application rules for Board-supervised payment stablecoin issuers under the GENIUS Act; comments run 60 days.
- [Fed prohibition orders target embezzlement, check fraud, conflicts](https://kredoreview.com/fed-prohibition-orders-check-fraud-embezzlement-employees/) (2026-09-18): The Fed barred three former bank and card-company employees from the industry over embezzlement, a check-fraud ring and an undisclosed conflict of interest.
- [Third-party risk management guidance proposed by four agencies](https://kredoreview.com/third-party-risk-management-guidance-proposal-core-providers/) (2026-09-11): The Fed, FDIC, NCUA and OCC proposed principles-based third-party risk management guidance; the three bank regulators also issued a statement on core service providers.
- [Fed ends enforcement orders at United Texas Bank and Quontic](https://kredoreview.com/fed-ends-enforcement-united-texas-quontic-orders/) (2026-09-04): The Federal Reserve terminated a 2024 cease and desist order at United Texas Bank and a 2023 written agreement with Quontic's holding companies on September 2.
- [FinCEN guidance flags $12.7 billion tied to digital asset scams](https://kredoreview.com/fincen-guidance-digital-asset-scams/) (2026-09-03): FinCEN's September 3, 2026 trend analysis tied about $12.7 billion in BSA-reported activity to suspected digital asset scams run from overseas compounds.
- [Fed written agreement restricts SouthPoint; Deutsche order ends](https://kredoreview.com/fed-written-agreement-southpoint-bancshares-capital/) (2026-08-20): The Fed signed a written agreement with SouthPoint Bancshares limiting dividends and debt, and ended a 2017 cease and desist order against Deutsche Bank units.
- [AML compliance: FinCEN ends BOI reporting for U.S. companies](https://kredoreview.com/aml-compliance-fincen-ends-boi-reporting/) (2026-08-11): FinCEN's August 11, 2026 final rule permanently ended beneficial ownership reporting for U.S. companies and persons; foreign reporting companies still file.
- [Regulation O proposal would update insider lending limits](https://kredoreview.com/regulation-o-proposal-insider-lending-rule/) (2026-07-31): The Federal Reserve proposed its first broad rewrite of Regulation O since 1979, updating insider credit thresholds and indexing them to economic growth.
- [CFPB financial literacy push: what Paoletta told the FLEC](https://kredoreview.com/cfpb-financial-literacy-remarks-flec-paoletta/) (2026-07-27): CFPB Deputy Director Mark Paoletta told the Financial Literacy and Education Commission the bureau is developing fraud and scam education materials and exploring AI tools.
- [Bank enforcement action bars ex-lending chief over altered appraisals](https://kredoreview.com/bank-enforcement-action-appraisal-fraud-lending-officer/) (2026-07-16): The Fed barred a former Illinois chief lending officer from banking over altered appraisals and loans backed by unlicensed appraisers that hurt a later owner.
- [Treasury sanctions Rwandan gold refinery over conflict minerals](https://kredoreview.com/treasury-sanctions-rwanda-gold-refinery/) (2026-06-25): On June 25, 2026, OFAC sanctioned Gasabo Gold Refinery, two executives and three mining firms over gold allegedly sourced from M23-held areas of eastern DRC.
- [Consumer credit regulation: CFPB presses Bilt to repay fee-hit users](https://kredoreview.com/consumer-credit-regulation-bilt-redress/) (2026-06-02): On June 2, 2026, the CFPB said it directed Bilt to give full redress after a bank-partner switch caused fees; over $264,000 went to over 2,000 consumers.
- [AML compliance: FinCEN proposes overhaul of program requirements](https://kredoreview.com/aml-compliance-fincen-program-reform-proposal/) (2026-04-07): FinCEN's April 7, 2026 proposed rule would refocus AML/CFT programs on risk, separate design flaws from execution lapses, and limit examiner second-guessing.

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