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TREAS/OCC RIN: 1557-AE09 Publication ID: Fall 2016 
Title: ●Customer Due Diligence Rule 
Abstract:

The OCC, FRB, FDIC, and NCUA plan to issue interim final rules to clarify the applicability of recent amendments to the Financial Crimes Enforcement Network (FinCEN) customer due diligence rules to the depository institutions under their supervision. FinCEN expanded its customer due diligence requirements for covered financial institutions, including banks, brokers or dealers in securities, mutual funds, and futures commission merchants and introducing brokers in commodities (FinCEN Rule).  As part of that rulemaking, FinCEN amended the elements of the anti-money laundering program financial institutions must implement and maintain in order satisfy program requirements under 31 U.S.C. 5318(h)(1). The agencies are amending their anti-money laundering program rules to maintain consistency with the FinCEN Rule.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
EO 13771 Designation: uncollected 
CFR Citation: 12 CFR 21   
Legal Authority: 12 U.S.C. 1    12 U.S.C. 93a    12 U.S.C. 1462a    12 U.S.C. 1463    12 U.S.C. 1464    12 U.S.C. 1818    12 U.S.C. 1881b-1884    12 U.S.C. 3401-3422    31 U.S.C. 5318   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Interim Final Rule  12/00/2016 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
MaryAnn Nash
Counsel
Department of the Treasury
Comptroller of the Currency
Chief Counsel's Office, 400 7th Street SW.,
Washington, DC 20219
Phone:202 649-6287
Email: maryann.nash@occ.treas.gov