Posts on the applicable.ai blog tagged Customer due diligence.
FinCEN and the four federal banking regulators say front-line staff may talk to customers about suspected fraud, frozen funds and account closures, as long as nothing reveals that a SAR exists. The statement changes no rule, but it answers a question branches ask every week.
A FinCEN geographic targeting order, effective 3 September 2026 and running through 1 March 2027, requires money services businesses in listed ZIP codes in Texas and New Mexico to file currency transaction reports on cash transactions from $1,000 to $10,000.
FinCEN's 14 August 2026 final rule adopts its earlier interim rule on beneficial ownership reporting with limited changes, adding exemptions for U.S. company applicants and for updates by U.S. persons. The bank customer due diligence rule is unchanged for now.
A Federal Reserve proposal would rewrite the BSA program rule for the banks it supervises to match the April 2026 proposals from FinCEN, the OCC, the FDIC and the NCUA. It would limit enforcement to significant or systemic failures. Comments are due 8 September 2026.
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