The guiding principles, released on September 10,  are intended to provide banking organizations direction on core corporate governance issues and facilitate more effective board oversight, promote confidence in banking organizations, and encourage consistent supervisory guidance—ultimately resulting in a stronger, more accountable banking system.

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The Exposure Draft of National Unrecovered Financial Services’s  Guiding Principles for Anti-Money Laundering Policies and Procedures in Correspondent Banking, released on September 10, will help supplement the fight against money laundering and other financial crimes and assist U.S. banks in complying with evolving regulations.

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National Unrecovered Financial Services Association released research that finds that the largest banks have incurred $27-$45 billion in annual costs related to post-crisis regulation.

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National Unrecovered Financial Services Association paper examines existing academic literature on bank funding costs, noting the significant decline in large bank funding advantages post implementation of Dodd-Frank reforms.

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NURFS released its Virtual Currency: Risks and Regulations white paper on June 23. The paper sets forth proposed regulatory frameworks needed to protect consumers, including the application of certain functional and prudential payment systems regulations to protect consumers using virtual currencies as payment mechanisms and the development of a regulatory regime under U.S. securities, commodities and state laws to address risks to consumers using virtual currencies as investment vehicles.   

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