Summary of Anti-Money Laundering and Countering the Financing of Terrorism Programs
Updated 09/16/2026
The proposed rule would require all banks supervised by the Board of Governors of the Federal Reserve System (the Board) to implement and maintain effective, risk-based anti-money laundering and counter-terrorist financing programs, aligning the Board’s standards with parallel proposals from the Financial Crimes Enforcement Network (FinCEN) and other banking regulators under the Anti-Money Laundering Act of 2020 (AML Act); it defines effectiveness in the terms of outcomes rather than rigid processes, clarifies the difference between establishing and maintaining a compliant program, incorporates customer identification and due-diligence expectations, and focuses supervisory and enforcement actions on material or systemic failures, all with the aim of improving the usefulness of financial intelligence, strengthening national security, and attempting to reduce unnecessary compliance burdens through clearer expectations.
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