Trump: The First Year - Anti-Money Laundering and the New Beneficial Ownership Rule

June 22, 2017

What does the new beneficial ownership rule mean for lenders and other businesses? As part of our “Trump: The First Year” series, International Trade Group partners Carlton Greene and Cari Stinebower sit down with Commercial Finance & Lending Senior Counsel Scott Lessne to discuss the new rule. Prior to joining the firm in 2015, Carlton served as chief counsel of FinCEN and also worked for OFAC at the Dept. of the Treasury. Cari has previously worked as an attorney advisor for the Office of the General Counsel at OFAC. Scott's practice involves the representation of financial institutions and corporate clients in connection with the negotiation and documentation of commercial, asset-based, project-related, and real estate loan transactions.

Discussed in this 33 minute podcast:

  • An overview of the new CDD rule, including what is covered.
  • How can banks identify beneficial owners? Who is responsible?
  • How does this affect small institutions versus large ones?
  • What new technology might affect this space?
  • What do covered businesses need to know and do?

Visit crowell.com/TrumpFirstYear for more information.

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