Dan Stipano quoted in MoneyLaundering.com on SCOTUS cases that could impact federal AML enforcement
Davis Polk partner Dan Stipano was quoted in MoneyLaundering.com on two cases before the U.S. Supreme Court that could impact federal anti-money laundering enforcement by making it easier for plaintiffs to challenge federal regulators. Dan noted that current laws make pushing back against a cease-and-desist order or civil monetary penalty “very difficult” for banks, which under most circumstances must go through an administrative review process that can take several years to complete.
“Depending on how the court rules, that restriction may no longer be applicable,” Dan explained.
“US Supreme Court Ruling Could Impact Federal AML Enforcement,” MoneyLaundering.com (November 16, 2022) (subscription required)