U.S. Treasurer Anna Escobedo Cabral
announced new outreach materials for money
services businesses (MSBs) in seven foreign
languages. In addition to English, the materials
are now available in Spanish, Chinese, Vietnamese,
Korean, Arabic, Farsi and Russian.
materials were produced in these languages to
enhance MSB outreach efforts to ethnic communities
affected by Bank Secrecy Act (BSA) requirements.
The Financial Crimes Enforcement Network
administers the BSA.
provide non-traditional financial services,
including check cashing, money orders, fund
transfers and utility bill payment services. MSBs
are considered to be a high-risk category for
money laundering and other financial crimes. About
40 million Americans who do not maintain bank
accounts regularly rely on MSBs for financial
The results of the 2016 presidential election are likely to have a big impact on federal tax policy in the coming years. Eddie Adkins, CPA, a partner in the Washington National Tax Office at Grant Thornton, discusses what parts of the ACA might survive the repeal of most of the law.