All in Regulatory Update

Comptroller Gould Introduces Initiatives to Fight Financial Fraud in Minnesota

Adam Witmer
Regulatory Update

On October 7, 2026, Comptroller of the Currency Jonathan V. Gould convened a panel of community bankers in Minneapolis, Minnesota, October 6 to discuss ongoing efforts to combat financial fraud. During the gathering with local community bankers, the Comptroller addressed ongoing efforts to prevent financial fraud within Minnesota, emphasizing financial institutions' pivotal responsibility in detecting fraudulent schemes, and the OCC’s commitment to support banks in their efforts.

FinCEN Withdraws Proposed Digital Asset Related Rules

Adam Witmer
BSA, Regulatory Update

On October 5, 2026, FinCEN announced that it is withdrawing two proposed rules that would have imposed certain regulatory requirements on financial institutions related to certain digital assets, specifically convertible virtual currencies. This action is part of ongoing efforts to ensure digital asset regulations are fit-for-purpose and in accordance with Trump Administration’s deregulatory agenda.

FinCEN Issues Alert on the A7 Network

Adam Witmer
BSA, Regulatory Update

On October 1, 2026, FinCEN issued an Alert to urge financial institutions to be vigilant in detecting, identifying, and reporting suspicious activity, involving the A7 Network. The A7 Network is a global wholesale sanctions evasion and money laundering service with ties to Russia, leveraged by a wide range of illicit actors, including Iran and its terrorist proxies.

Treasury Issues Review of State Certifications Interim Final Rule

Adam Witmer
Regulatory Update

On September 30, 2026, the Treasury, on behalf of the Stablecoin Certification Review Committee, published an interim final rule that establishes procedural regulations and forms to implement its responsibilities under the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act or the Act). The regulations set out a process to facilitate the Committee's approval or denial of certifications submitted by State payment stablecoin regulators of the GENIUS Act, and prescribe the form of such certifications.

FDIC Updates its Compliance Exam Manual

Adam Witmer
Regulatory Update

On September 24, 2026, the FDIC updated one section of its Consumer Compliance Examination Manual. The Consumer Compliance Examination Manual is a primary resource and reference tool for FDIC compliance examination staff to use in support of conducting Consumer Compliance and Community Reinvestment Act examinations and other supervisory activities. 

OCC Updates Cybersecurity Supervision Work Program

Adam Witmer
Regulatory Update

On September 21, 2026, the OCC announced that it had recently updated the structure and references of the OCC Cybersecurity Supervision Work Program (CSW) used by examiners. The CSW provides high-level examination objectives and procedures that are aligned with existing supervisory guidance and the National Institute of Standards and Technology (NIST) Cybersecurity Framework (CSF). 

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