Anti-Money Laundering and Countering the Financing of Terrorism Programs

What it does

The Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA) (collectively, "the Agencies" or "Agency" when referencing the singular) are inviting comment on a proposed rule that would require banks to establish and maintain effective anti-money laundering and countering the financing of terrorism (AML/CFT) programs reasonably designed to identify, assess, and mitigate risks of illicit finance. The amendments are intended to align with changes that are being concurrently proposed by the Financial Crimes Enforcement Network (FinCEN) to implement provisions of the Anti-Money Laundering Act of 2020 (AML Act). Among other changes, this proposed rule would ensure that institutions establish and maintain effective AML/CFT programs that are intended to better achieve the purposes of the Bank Secrecy Act (BSA), culminating in the development of highly useful information related to illicit financial transactions for law enforcement and national security agencies. Through this rulemaking, the Agencies also intend to modernize and reform Federal supervision of AML/CFT programs by enhancing FinCEN's role in AML/CFT supervision and enforcement.

The Comptroller of the Currency's summary, as published in the Federal Register.

What it would change

3 parts of Title 12 of the Code of Federal Regulations:

12 CFR 21, 12 CFR 326, 12 CFR 748

Before this

No earlier Federal Register document under regulation identifier 1557-AF14, 3064-AF34, 3133-AG08 since Jan. 1, 2025.

What happens next and when

Written comments may be submitted on or before June 9, 2026.

The agency's dates, word for word.

Check it yourself

• The document in the Federal Register
• Docket NCUA-2024-0033 on Regulations.gov
• Title 12 on eCFR

The record as published

Source: the Federal Register (public domain). The document in the Federal Register