On May 11, 2026, FinCEN issued a Notice to urge financial institutions to be vigilant in detecting, identifying, and reporting suspicious activity connected to human trafficking associated with the 2026 Fédération Internationale de Football Association (FIFA) World Cup.

May 12
May 12 FinCEN Issues Alert on IRGC Money Laundering Activities

Adam Witmer

BSA, Regulatory Update

On May 11, 2026, FinCEN issued an Alert to help financial institutions identify and stop funding streams and procurement networks supporting Iran’s Islamic Revolutionary Guard Corps (IRGC). The Alert outlines how the IRGC facilitates and launders the proceeds of illicit oil sales by using networks of shell companies and financial facilitators.

May 11
May 11 OCC Issues Spring 2026 Semiannual Risk Perspective

Adam Witmer

Regulatory Update

On May 7, 2026, the OCC released its Spring 2026 edition of the publication Semiannual Risk Perspective. The publication addresses key issues facing banks, focusing on those that pose threats to the safety and soundness of banks and their compliance with applicable laws and regulations.

May 7
May 7 FinCEN Updates its CDD Rule FAQs

Adam Witmer

Regulatory Update, BSA

On May 6, 2026, FinCEN updated several of its Q&As on Customer Due Diligence Requirements for Financial Institutions to align with the exceptive relief order issued on February 13, 2026. The reissued FAQs also consolidate three sets of previously issued FAQs published in 2016, 2018, and 2020 into a single document.

May 7
May 7 NCUA Issues Eleventh Round of Deregulation Proposals

Adam Witmer

Regulatory Update

On May 6, 2026, the NCUA announced the eleventh round of proposed regulatory changes associated with its Deregulation Project. The project is an ongoing review of NCUA’s regulations to ensure that regulations are focused on credit unions’ safety, soundness, and resilience.

May 4
May 4 Federal Reserve Vice Chair Bowman Discusses AI Risk Management and Supervision in Banking

Adam Witmer

Regulatory Update

On May 1, 2026, Federal Reserve Vice Chairman Michelle W. Bowman, at a Financial Stability Oversight Council (FSOC) roundtable, discussed the increasing use of artificial intelligence (AI) in the banking industry and the need for balanced regulatory oversight. Bowman highlighted that AI is increasingly used in financial institutions for cybersecurity, operations, and customer services, providing major efficiency and security advantages.

Apr 30
Apr 30 CFPB Issues Revised 1071 Final Rule

Adam Witmer

Regulation B, Regulatory Update

On May 1, 2026, the CFPB has issued a revised final rule under Section 1071 of the Dodd-Frank Act. The Bureau stated that the revised rule is intended to improve data quality, reduce compliance burden, and minimize disruptions to small business lending markets.

Apr 29
Apr 29 FHA, Fannie Mac and Freddie Mac Implement New Credit Score Models

Adam Witmer

Regulatory Update

On April 22, 2026, HUD Secretary Scott Turner and FHFA Director William J. Pulte announced that the Federal Housing Administration, Fannie Mae, and Freddie Mac are implementing their first new credit score models for mortgages. According to the FHFA’s press release, the move is intended to lower costs for the American people after years of rising prices under the status quo credit score system.

Apr 28
Apr 28 Fannie Mae Issues Guidance for AI and Machine Learning Use in Mortgage Operations

Adam Witmer

Regulatory Update

On April 8, 2026, Fannie Mae issued Lender Letter (LL-2026-04), establishing a governance framework for the use of artificial intelligence (AI) and machine learning (ML) by Single-Family Seller/Servicers. The guidance reflects the growing role of AI/ML in mortgage origination and servicing, while emphasizing the need for responsible deployment aligned with legal, ethical, and risk management standards.

Apr 27
Apr 27 CFPB Issues Final Rule to Prohibit Disparate Impact Claims

Adam Witmer

Regulation B

On April 22, 2026, the CFPB issued a final rule amending Regulation B under the Equal Credit Opportunity Act (ECOA) to clarify its scope, eliminate certain liability theories, and update standards for special purpose credit programs. The final rule will become effective on July 21, 2026.

May 13
May 13 FinCEN Issues Notice Warning of Human Trafficking Risks During 2026 FIFA World Cup

May 12
May 12 FinCEN Issues Alert on IRGC Money Laundering Activities

May 11
May 11 OCC Issues Spring 2026 Semiannual Risk Perspective

May 7
May 7 FinCEN Updates its CDD Rule FAQs

May 7
May 7 NCUA Issues Eleventh Round of Deregulation Proposals

May 4
May 4 Federal Reserve Vice Chair Bowman Discusses AI Risk Management and Supervision in Banking

Apr 30
Apr 30 CFPB Issues Revised 1071 Final Rule

Apr 29
Apr 29 FHA, Fannie Mac and Freddie Mac Implement New Credit Score Models

Apr 28
Apr 28 Fannie Mae Issues Guidance for AI and Machine Learning Use in Mortgage Operations

Apr 27
Apr 27 CFPB Issues Final Rule to Prohibit Disparate Impact Claims

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