Agencies Request Comment on Anti-Money Laundering/Countering the Financing of Terrorism Proposed Rule | NCUA

https://ncua.gov/newsroom/press-release/2026/agencies-request-comment-anti-money-laundering-countering-financing-terrorism-proposed-rule
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2026-04-09 03:09:20 · reprocess@vixio.com
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ALEXANDRIA, VA (April 7, 2026) – The Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and the National Credit Union Administration (NCUA) (collectively, the “Agencies”) today invite public comment on a proposed rule to amend the respective requirements for their supervised institutions to establish and maintain effective risk-based anti-money laundering and countering the financing of terrorism (AML/CFT) programs designed to identify, assess, and mitigate risks of illicit finance.

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TITLE: United States Banking Regulators Request Comment on Anti-Money Laundering and Countering the Financing of Terrorism Proposed Rule BODY: On April 7, 2026, the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and the National Credit Union Administration (NCUA) invited public comment on a proposed rule to amend anti-money laundering and countering the financing of terrorism (AML/CFT) requirements for their supervised institutions. The proposed rule aims to align each agency's AML/CFT rules with concurrent amendments proposed by the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). The amendments implement provisions of the Anti-Money Laundering Act of 2020 (AML Act), which directed FinCEN and the Agencies to modernize and strengthen the AML/CFT regulatory framework under the Bank Secrecy Act (BSA). Key changes in the proposed rule include: establishing risk-based AML/CFT programs requiring institutions to direct more attention and resources toward higher-risk customers and activities; explicitly incorporating FinCEN's customer due diligence requirement; clarifying that designated AML/CFT officers must be located in the United States and accessible to regulators; requiring institutions to maintain properly established AML/CFT programs in all material respects; clarifying that only significant or systemic failures to implement an established program warrant enforcement or supervisory action; enhancing FinCEN's role in the Agencies' supervision and enforcement process through a new consultation framework; and clarifying that banks may share AML/CFT-related information with FinCEN regarding certain supervisory and enforcement actions. The comment period closes 60 days after publication in the Federal Register. Responses should be submitted in accordance with procedures outlined in the Notice of Proposed Rulemaking.
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