On May 21, 2026, the Office of the Comptroller of the Currency (OCC) made public an April 2026 consent order (AA-ENF-2025-21) against a federal savings association based in the Northeast for deficiencies in its Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program. The order is the latest in a growing line of enforcement actions demonstrating that
On February 13, 2026, the Financial Crimes Enforcement Network (FinCEN) issued a significant order (FIN-2026-R001) granting exceptive relief to covered financial institutions from the long-standing requirement to identify and verify the beneficial owners of legal entity customers at each new account opening. While this development will be welcomed by many in the financial services industry