COVID-19 FinCEN Updated Guidance Summary
Updated 04/09/2020
On March 13, 2020, the President declared a National Emergency in response to the Coronavirus Disease 2019 (COVID-19). On March 16, 2020, FinCEN issued an initial Notice encouraging Banks to communicate concerns related to the COVID-19 pandemic and to remain alert to related illicit financial activity. On April 3, 2020, FinCEN updated its March 16 Notice with additional information to help Banks comply with their BSA obligations during the pandemic, and to announce a new page on its website that Banks can use for urgent COVID-19-related issues. Finally, FinCEN indicates it will issue further guidance as the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is implemented, including the need to quickly disburse CARES Act funds.
Members Can Download This Tool
Login to Download
Not Yet a Member?
Our members enjoy:
On-demand regulatory guidance hotline – by chat, phone and email – available from anywhere, on any device – 7 am - 6 pm, M-F, Central time
Research time saved daily & weekly across forms, checklists, and trainings — for every regulation
Hours of form-building and branding of bank documents saved; in some cases, even the budget of additional staff
A sounding board for support and reassessment when institutional goals or the regulatory environment changes
Access to attorneys and compliance specialists for risk modelling and decision-making in advance of large business decisions
The knowledge that C/A was created and owned by 30 State Bankers Association to provide bank compliance services to their membership organizations
Find out how a personalized team of attorneys and compliance professionals helps build targeted compliance strategies throughout your institution when you take our Live Membership Demo.