Regulatory Alerts2021-04-09
Added
Request for Information on Model Risk Management Principles Supporting BSA/AML and OFAC Compliance
The Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System, Federal Deposit Insurance Corporation, National Credit Union Administration, and Financial Crimes Enforcement Network seek information and comments from interested parties on the extent to which principles in the interagency Supervisory Guidance on Model Risk Management support bank compliance with Bank Secrecy Act/anti-money laundering and Office of Foreign Assets Control requirements. The agencies aim to enhance their understanding of bank practices in these areas to determine if additional explanation or clarification would increase transparency, effectiveness, or efficiency. Comments must be received by June 11, 2021.
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