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AUSTRAC Guidance on Compulsory Examination Powers

AUSTRAC has published new guidance on its compulsory examination powers, introduced by the Anti-Money Laundering and Counter-Terrorism Financing Amendment Act 2024. The guidance clarifies the scope and application of these powers, which require individuals to attend examinations and provide documents.

AUSTRAC Releases AML/CTF Program Starter Kits for Small Businesses

AUSTRAC has released Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF) program starter kits to assist small businesses in newly regulated sectors. These kits provide practical tools and step-by-step guidance to help businesses meet their compliance obligations under the AML/CTF Act, which will take effect from July 1.

Canada Beneficial Ownership Requirements Guidance

FINTRAC has released a video explaining beneficial ownership requirements in Canada, crucial for combating money laundering and terrorist financing. The guidance is relevant to all reporting entities except title insurers.

UK Sanctions List Search Tool

The UK government has launched a search tool for its Sanctions List, which details designated individuals, entities, and ships subject to UK sanctions. This tool aims to assist users in identifying sanctioned parties and understanding their obligations.

FinCEN Whistleblower Program Bulletin on Fraud-Related AML and Sanctions Violations

FinCEN has issued a bulletin highlighting its whistleblower program, encouraging tips on violations of the Bank Secrecy Act (BSA) and sanctions programs, particularly those involving fraud. The bulletin details types of fraud schemes and reporting expectations for financial institutions.

OCC Enforcement Action Types

The Office of the Comptroller of the Currency (OCC) has published a guide detailing the types of formal enforcement actions it can take against supervised financial institutions and their affiliated parties. The document outlines various actions including Capital Directives, Cease & Desist Orders, and Civil Money Penalties.

NCUA Removes Disparate Impact References from Guidance

The NCUA has removed references to disparate impact liability from its Fair Lending Guide and other issuances, consistent with Executive Order 14281. Examiners will no longer request or review information related to a credit union's disparate impact risk.

NCUA 2026 Supervisory Priorities

The National Credit Union Administration (NCUA) has released its supervisory priorities for 2026, focusing on areas posing the highest risk to credit union members and the Share Insurance Fund. Key areas include balance sheet management, particularly lending practices, due to recent declines in loan performance and rising delinquency rates.

NCUA Removes Reputation Risk from Banking Guidance

The National Credit Union Administration (NCUA) has removed reputation risk from its examination and supervisory guidance, effective September 25, 2025, in accordance with Executive Order 14331. This change directs NCUA employees to no longer base supervisory concerns on reputation risk when examining federally insured credit unions.

NCUA Extends 18% Loan Interest Rate Ceiling for Federal Credit Unions

The National Credit Union Administration (NCUA) has extended the temporary 18% interest rate ceiling for loans made by federal credit unions. This extension, approved by the NCUA Board, will now last through September 10, 2027, providing continued flexibility for consumer lending.