On July 9, 2026, the Federal Reserve Board requested public comment on a proposal to amend its requirements for banks to maintain anti-money laundering (“AML”) programs in an effort to align the Federal Reserve’s rules with AML program changes separately proposed by the Financial Crimes Enforcement Network (FINCEN), the Office of the Comptroller of the Currency (OCC), the Federal Deposit Insurance Corporation (FDIC), and the National Credit Union Administration (NCUA). The proposal would require banks to direct AML resources based on their level of risk in order to give more attention to higher-risk customers and activities. It would also require banks to incorporate FinCEN’s AML priorities into their risk assessment processes. Once a bank has established an AML program, the Federal Reserve proposes to implement the program by focusing supervision and enforcement efforts on significant program failures.
Comments on the proposal are due 60 days after publication in the Federal Register.
Federal Reserve Board Press Release | Federal Register