Banks Face Tougher Anti-Money Laundering Rule Proposals
Published Date: 4/10/2026
Proposed Rule
Summary
Banks and credit unions will need to step up their game with stronger programs to stop money laundering and terrorism funding. These new rules, matching updates from FinCEN, aim to make spotting bad money easier and improve how the government supervises these efforts. Comments on the proposal are open until June 9, 2026, so the financial world has a chance to weigh in before changes kick in.
Analyzed Economic Effects
4 provisions identified: 0 benefits, 1 costs, 3 mixed.
Banks must run stronger AML/CFT programs
Banks and credit unions supervised by the OCC, FDIC, and NCUA would be required to establish and maintain an "effective" anti-money laundering and countering the financing of terrorism (AML/CFT) program. The rule lists specific components banks must have (risk-based policies and controls, prompt risk assessments, ongoing customer due diligence, employee training, independent testing, a written program approved by the board, and a U.S.-based individual responsible for the program) and requires banks to implement their programs "in all material respects."
Ongoing customer due diligence and BOI collection
Banks would be required to conduct ongoing customer due diligence as part of their AML/CFT programs, which includes identifying, assessing, and documenting customers' money-laundering and terrorist-financing risks. The proposal references customer due diligence and earlier FinCEN requirements that include beneficial ownership information collection for certain customers, meaning some businesses and legal-entity customers will need to provide ownership information to their banks.
Focus on risks, not blanket de-banking
The proposal emphasizes a risk-based approach that directs more attention and resources toward higher-risk customers and activities, and the Agencies reiterate that banks should manage customer relationships based on individual risk rather than decline banking services to entire categories of customers. The Agencies say this approach encourages banks to mitigate risks for particular customers instead of cutting off whole groups.
Banks must follow government AML/CFT priorities
The proposed rule would require banks' risk assessments to review and, as appropriate, incorporate government-wide AML/CFT Priorities. The document notes FinCEN issued the first AML/CFT Priorities on June 30, 2021, and the Priorities must be updated not less frequently than once every four years.
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Key Dates
Department and Agencies
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