Artificial intelligence and machine learning are some examples of technology available now to help combat money launderers profiting from the pandemic.
A trade group says suspending so-called beneficial owner rules would help financial institutions make more small-business loans through the Paycheck Protection Program.
Financial institutions’ legislative agenda was already a low priority in Congress. Lawmakers’ efforts to stabilize the economy have shifted attention even farther away from bills that would benefit the industry.
The disease could lead to less lending business and more loan defaults; Sergio Ermotti will join the insurance company as chairman in 2021.