Coleman, Kennedy Request Regulatory Changes in the Wake of Money Wiring Saga

Responding to a desperate appeal by money wiring services (MWSs) facing the possibility of losing accounts with banks due to federal overregulation, Senator Norm Coleman joined Congressman Mark Kennedy in requesting the Treasury department to review its policies. In a joint statement Thursday, Coleman and Kennedy urged the Treasury’s Financial Crimes Enforcement Network (FINCEN) to “consider proposing appropriate regulatory and guidance changes and conduct enhanced outreach efforts,