On August 3, 2026, FinCEN assessed a $125,000,000 civil money penalty against UBS Financial Services Inc. (UBSFS) for willful violations of the Bank Secrecy Act. According to FinCEN’s press release, this is the largest penalty ever imposed against a broker-dealer for BSA violations to date.

Aug 3
Aug 3 Agencies Issue Joint Proposal to Amend Community Reinvestment Act Rules

Adam Witmer

Regulatory Update, CRA

On July 31, 2026, the OCC and FDIC issued a joint proposal to amend parts of the Community Reinvestment Act (CRA). The proposed changes are intended to better align the regulations with the statutory mandate, help ensure community development activities benefit their intended communities, reduce burden particularly for community banks, and provide greater clarity on how banks can receive CRA consideration.

Aug 3
Aug 3 FDIC Proposes to Increase Extensions of Credit to Insiders

Adam Witmer

Regulatory Update, Regulation O

On July 31, 2026, the FDIC issued a proposed rule that would adjust certain lending thresholds for executive officers and other insiders of FDIC-supervised institutions. Federal laws currently set strict parameters for lending to these individuals and their related interests at FDIC-supervised institutions.

Jul 28
Jul 28 FinCEN’s Statement of Enforcement Policy to Support Venezuela’s Economic Recovery and Relief

Adam Witmer

BSA, Regulatory Update

On July 27, 2026, FinCEN issued a statement of enforcement policy in support of economic recovery and earthquake relief efforts in Venezuela. The statement was made in consultation with the Internal Revenue Service, Federal Reserve, FDIC, NCUA, and OCC.

Jul 28
Jul 28 OCC Proposes Information Collection for GENIUS Act Stablecoin Licenses

Adam Witmer

Regulatory Update

On July 27, 2026, the OCC proposed a new information collection to comply with the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act) requirement for entities seeking to issue payment stablecoins in the United States. Comments must be submitted by September 25, 2026.

Jul 27
Jul 27 FinCEN Alert on Fraud Schemes Targeting Federal Student Aid

Adam Witmer

BSA, Regulatory Update

On July 24, 2026, FinCEN issued an Alert urging financial institutions to detect, prevent, and report suspicious activity connected to fraud schemes targeting student aid programs administered by the Federal government. According to FinCEN, fraud rings use stolen and fraudulent identities and other tactics to unlawfully acquire funds from Federal student aid programs, resulting in losses to Federal student aid programs and real students facing difficulties enrolling in classes.

Jul 23
Jul 23 FinCEN Announces Extension of Comment Period for Huione Group Proposed Rule

Adam Witmer

BSA

On July 22, 2026, FinCEN announced that it is extending the comment period for the notice of proposed rulemaking (NPRM) it published in June to amend the existing definition of Huione Group to include H-Pay Service PLC and any successor entity. The extension is due to a technological issue that prevented the public from electronically filing comments for several days.

Jul 22
Jul 22 FinCEN Director Gacki Testifies on National Security

Adam Witmer

BSA, Regulatory Update

On July 21, 2026, FinCEN Director Andrea Gacki testified before the United States House of Representatives Committee on Financial Services. Gacki provided an update on FinCEN’s work to combat fraud schemes and its efforts to modernize the Bank Secrecy Act (BSA) regime to address illicit finance threats.

Jul 20
Jul 20 HUD Withdraws OGC Guidance Documents

Adam Witmer

Regulatory Update

On July 17, 2026, the HUD published a Notice in the Federal Register to withdraw several Office of General Counsel (OGC) has withdrawn the guidance documents. The withdrawal of these non-binding guidance documents is part of the Department’s broader regulatory reform and deregulatory efforts.

Jul 19
Jul 19 ON SALE: Adverse Action Requirements

Adam Witmer

Our Adverse Action Requirements class is currently on sale in our store. This program takes a deep dive into everything you and your team need to know about adverse action notices. In this program, we review the adverse action requirements of both Reg B and FCRA, explain disclosure requirements under the FCRA mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act), and discuss common adverse action violations. Plus, our Adverse Action Requirements has been pre-approved by the ABA for 4.5 CRCM/CERP continuing education credits. To learn more about this program, go to: www.compliancecohort.com/adverse-action-requirements

Aug 4
Aug 4 FinCEN Imposes $125M Penalty on UBS for BSA Violations

Aug 3
Aug 3 Agencies Issue Joint Proposal to Amend Community Reinvestment Act Rules

Aug 3
Aug 3 FDIC Proposes to Increase Extensions of Credit to Insiders

Jul 28
Jul 28 FinCEN’s Statement of Enforcement Policy to Support Venezuela’s Economic Recovery and Relief

Jul 28
Jul 28 OCC Proposes Information Collection for GENIUS Act Stablecoin Licenses

Jul 27
Jul 27 FinCEN Alert on Fraud Schemes Targeting Federal Student Aid

Jul 23
Jul 23 FinCEN Announces Extension of Comment Period for Huione Group Proposed Rule

Jul 22
Jul 22 FinCEN Director Gacki Testifies on National Security

Jul 20
Jul 20 HUD Withdraws OGC Guidance Documents

Jul 19
Jul 19 ON SALE: Adverse Action Requirements

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