US financial regulators have proposed a rewrite of the rules governing bank anti-money laundering programmes, raising the legal standard from one that is merely "reasonably designed" to one that is "effective, risk-based and reasonably designed".
The Financial Crimes Enforcement Network (FinCEN) issued its notice of proposed rulemaking in April 2026, with the Office of the Comptroller of the Currency, the Federal Deposit Insurance Corporation and the National Credit Union Administration putting forward aligned proposals of their own at the same time. The Federal Reserve followed with a companion proposal of its own in July 2026. Under the plans, financial institutions would be expected to direct compliance resources towards higher-risk customers and activities in line with their risk profile, rather than spreading effort evenly across their books.
The proposals would consolidate existing requirements tied to the purpose of the Bank Secrecy Act. They would also require that the people responsible for running, maintaining and enforcing the programme be based in the United States, within reach of, and answerable to, the Treasury and the relevant federal regulator. FinCEN has proposed a 12-month implementation period once any final rule takes effect.
The proposals drew a letter from senior Republican lawmakers, House Financial Services Committee Chairman French Hill and Representative Warren Davidson, who pressed FinCEN to use the reform to modernise anti-money-laundering requirements, raise reporting thresholds and support the use of artificial intelligence in monitoring for illicit activity. The public comment period closed on 9 June 2026.
