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NCUA | RIN: 3133-AF33 | Publication ID: Spring 2021 |
Title: ●Request for Information and Comment on Model Risk Management Support Compliance with BSA/AML and OFAC Requirements | |
Abstract:
NCUA is issuing 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 seek 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 seek 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. |
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Agency: National Credit Union Administration(NCUA) | Priority: Substantive, Nonsignificant |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Prerule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 748.2(b) 12 CFR 748.1(c) | |
Legal Authority: 12 U.S.C. 1766(a) 12 U.S.C. 1786(q) |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: None |
Small Entities Affected: No | Federalism: Undetermined |
Included in the Regulatory Plan: No | |
RIN Information URL: https://www.ncua.gov/regulation-supervision/rules-regulations/proposed-pending-recently-final-regulations | |
RIN Data Printed in the FR: No | |
Agency Contact: Chrisanthy J. Loizos Senior Trial Attorney National Credit Union Administration 1775 Duke Street, Alexandria, VA 22314 Phone:703 518-6551 Fax:703 518-6569 Email: cjloizos@ncua.gov |