CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • COVID-19
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » Federal, state regulators release updates to BSA/AML Examination Manual
Policy & Issues

Federal, state regulators release updates to BSA/AML Examination Manual

February 25, 2021
Lending compliance: Focus on three top priorities

The Federal Financial Institutions Examination Council (FFIEC) Thursday released updates to four sections of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual.

The manual provides instructions to examiners for assessing the adequacy of a bank’s or credit union’s BSA/AML compliance program and its compliance with BSA regulatory requirements. The manual itself does not establish requirements for financial institutions; such requirements are found in statutes and regulations.

The updates affect the following Manual sections:

  • Introduction – Assessing Compliance with Bank Secrecy Act Regulatory Requirements
  • Customer Identification Program
  • Currency Transaction Reporting
  • Transactions of Exempt Persons

According to the FFIEC, the updates should not be interpreted as new instructions or as a new or increased focus on certain areas; instead, they offer further transparency into the examination process and support risk-focused examination work. 

These updates will be identified by a 2021 date on the FFIEC BSA/AML InfoBase.

Updates to other sections of the manual will be announced as they are completed.

KEYWORDS compliance
Credit Union Magazine - Spring 2021

Spring 2021

Credit Union Magazine’s Spring 2021 edition features CUNA's 2021 advocacy agenda, strategic planning guidance, and labor market insights.
Digital Edition •  Subscribe

Trending

  • PCA flexibility coming soon from NCUA

  • CUNA leaders talk CFPB supervision compliance details

  • 48 credit union leaders graduate from Foundation’s virtual DE Program

Tweets by CUNA_News

Polls

How have vaccination efforts affected your remote work policy?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites
  • Privacy Policy

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors