Compliance Systems Inc.
  • Home
  • About CSi
  • Business Partners
  • IntelleDoc™
  • Compliance RC
  • News & Press
  • Support
  • Contact
  • Careers
Search the site...

FinCen Proposes New Requirements for Banks Lacking a Federal Functional Regulator

The Financial Crimes Enforcement Network (FinCEN) is proposing a rule that requires banks who do not have a federal functional regulator to establish Anti-Money Laundering Programs. The proposed rule will also extend the Customer Identification Program (CIP) requirements and the beneficial ownership requirements that were recently established as a part of FinCEN’s Customer Due Diligence amendments. The financial institutions covered by this proposed rule would include state chartered non-depository trust companies, non-federally insured credit unions, private banks, non-federally insured state banks and savings associations, and certain international banking entities. Comments are due by October 24, 2016.

Click here to read the Notice of Proposed Rulemaking.

View all RC updates by type

  • All Recent Updates
    • Deposit
    • Tax-Favored Accounts
    • Consumer Lending
    • Commercial Lending
    • Mortgage Lending


Remarkable Transactions. Remarkable Partner.

Phone: 800.968.8522
or 616.956.1800
info@compliancesystems.com

A U.S. Company Serving U.S. Financial Institutions.

Latest News

  • CSi Talks Innovation with PROGRESS In Lending
  • CSi Executive Featured in MortgageOrb
  • Industry Pivot Point
© 2015 Compliance Systems Inc. All rights reserved.
  • Terms Of Use
  • Sitemap