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TREAS/FINCEN RIN: 1506-AB28 Publication ID: Fall 2017 
Title: Anti-Money Laundering Programs for Banks Lacking a Federal Functional Regulator 
Abstract:

FinCEN is issuing this rule to remove the anti-money laundering program exemption for banks that lack a Federal functional regulator, including but not limited to private banks, non-federally insured credit unions, and certain trust companies. The proposed rule would prescribe minimum standards for anti-money laundering programs and ensure that all banks, regardless of whether they are subject to Federal regulation and oversight, are required to establish and implement anti-money laundering programs.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Regulatory 
CFR Citation: 31 CFR Ch. X     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 12 U.S.C. 1829(b)    12 U.S.C. 1951 to 1959    31 U.S.C. 5311 to 5314    31 U.S.C. 5316 to 5332   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  08/25/2016  81 FR 58425   
NPRM Comment Period End  10/24/2016 
Final Action  01/00/2018 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: State 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Conici Blount
Regulatory Policy Specialist
Department of the Treasury
Financial Crimes Enforcement Network
1801 L Street NW.,
Washington, DC 20036
Phone:202 354-6397
Fax:202 354-6411
Email: conici.blount@fincen.gov

Russell G. Stephenson
Senior Program Manager, Policy Division
Department of the Treasury
Financial Crimes Enforcement Network
1801 L Street NW.,
Washington, DC 20036
Phone:202 354-6012
Fax:202 354-6411
Email: russell.stephenson@fincen.gov