3133-AF33 202404 Unified Agenda of Federal Regulatory and Deregulatory Actions 3133 National Credit Union Administration NCUA Request for Information and Comment on Model Risk Management Support Compliance With BSA/AML and OFAC Requirements

The NCUA Board (Board) issued a request for information and comment with the Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve (FRB), and the Department of Treasury’s Financial Crimes Enforcement Network. The Agencies sought comments and information from interested parties on the extent to which the principles discussed in the Supervisory Guidance on Model Risk Management issued by the FRB, FDIC and OCC support compliance by banks (including credit unions) with Bank Secrecy Act/anti-money laundering and Office of Foreign Assets Control requirements. The Agencies sought this information to enhance their understanding of bank practices in these areas and determine whether additional explanation or clarification may increase transparency, effectiveness, or efficiency. The Agencies are considering the comments and any related future action. 

]]> Substantive, Nonsignificant Previously Published in The Unified Agenda Long-Term Actions No No 12 CFR 748.2(b) 12 CFR 748.1(c) 12 U.S.C. 1766(a) 12 U.S.C. 1786(q) No ANPRM 04/12/2021 86 FR 18978 ANPRM Comment Period End 06/11/2021 Next Action Undetermined To Be Determined No No None No No https://www.ncua.gov/regulation-supervision/rulemakings-proposals-comment No No Ian Marenna Associate General Counsel 3133 National Credit Union Administration NCUA 703 518-6554 703 518-6569 imarenna@ncua.gov 1775 Duke Street, Alexandria VA 22314