Regulatory AlertsSR 24-4: Interagency Statement on the Issuance of the AML/CFT Program Notices of Proposed Rulemaking
The Board of Governors of the Federal Reserve System, the FDIC, the NCUA, the OCC, and FinCEN issued an interagency statement to accompany Notices of Proposed Rulemaking regarding amendments to anti-money laundering and countering the financing of terrorism program requirements. This statement clarifies that the proposed rules are designed to codify existing practices and foster risk-based programs while supporting the modernization goals of the Anti-Money Laundering Act of 2020. The Agencies explicitly note that the statement does not alter existing legal requirements, establish new supervisory expectations, or signal specific outcomes for the final rule.
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