All in Regulatory Update

On September 12, 2025, the FDIC issued a notice and request for comment on a proposed information collection, a Survey of the Costs of AML/CFT Compliance. The survey seeks to gather information on the direct costs incurred by banks, savings associations, and credit unions in complying with the BSA/AML/CFT requirements, and the amount attributable to AML/CFT compliance that overlap with those of other activities such as fraud and credit monitoring. 

On September 10, 2025, Comptroller of the Currency Jonathan V. Gould issued a statement at the Financial Stability Oversight Council (FSOC) meeting about the OCC's work to reset the risk tolerance for the federal banking system. Comptroller Gould discussed the OCC’s work to review the agency’s post-2008 chartering, regulatory, and supervisory framework to ensure the federal banking system remains relevant and fulfills its mission.

On September 8, 2025, the FDIC updated chapter four of its Formal and Informal Enforcement Actions Manual, entitled Cease-and-Desist Actions, regarding the agency’s minimum standards for terminating cease-and-desist and consent orders issued under Section 8(b) of the Federal Deposit Insurance Act. The manual provides direction for professional staff related to the work necessary to pursue formal and informal enforcement actions.