Federal Register #2026-06948

Proposed Rule for Anti-Money Laundering and Countering the Financing of Terrorism Programs

This opportunity involves a proposed rulemaking by the Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and National Credit Union Administration (NCUA) to strengthen anti-money laundering and countering the financing of terrorism (AML/CFT) programs for banks. - Government Buyers: - Office of the Comptroller of the Currency (OCC) - Federal Deposit Insurance Corporation (FDIC) - National Credit Union Administration (NCUA) - Financial Crimes Enforcement Network (FinCEN) highlighted as a key federal entity - Scope of Proposed Rule: - Requires banks to establish and maintain effective AML/CFT programs - Aligns with the Anti-Money Laundering Act of 2020 - Seeks to modernize and reform federal supervision of AML/CFT programs - Enhances FinCEN's role in supervision and enforcement - Mandates risk-based internal policies, procedures, and controls - Requires ongoing customer due diligence and program updates as risk profiles change - Notable Requirements: - Focus on risk-based approaches to identify, assess, and mitigate illicit finance risks - Public comment requested on regulatory requirements for financial institutions - No specific products or services are being procured; this is a regulatory notice seeking feedback, not a solicitation for goods or services.

Description

The Office of the Comptroller of the Currency (OCC), Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA) propose a rule requiring banks to establish and maintain effective anti-money laundering and countering the financing of terrorism (AML/CFT) programs. The rule aims to align with the Anti-Money Laundering Act of 2020 and enhance the effectiveness of AML/CFT programs to better identify and mitigate risks of illicit finance. It also seeks to modernize federal supervision by enhancing the Financial Crimes Enforcement Network's (FinCEN) role in AML/CFT supervision and enforcement. Comments on the proposed rule are invited until June 9, 2026.

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