Regulatory Alerts2026-07-31
Added · Updated
Joint Statement of Enforcement Policy in Support of Venezuela’s Economic Recovery and Earthquake Relief Efforts
The Federal Reserve, FDIC, NCUA, and OCC commit to not taking supervisory or enforcement actions against supervised financial institutions for violations of Bank Secrecy Act requirements arising from authorized financial services provided to persons or entities in Venezuela. This non-penalization policy applies to services rendered between July 31, 2026, and January 29, 2027, and excludes knowing, willful, or intentional violations. Eligible institutions must maintain compliance with BSA compliance programs, have no final enforcement actions for BSA violations in the prior 24 months, and remain compliant with OFAC sanctions regulations.
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