Effective immediately, the OCC is ending the annual mandatory data collection from community banks under the Money Laundering Risk System. Community banks are defined by OCC as those with less than $30 billion in assets. The agency said it has determined that there are alternative, less burdensome means of assessing community banks’ money laundering and terrorist financing risk.

The OCC has also issued a new bulletin tailoring BSA examination procedures for institutions that generally present low levels of money laundering and terrorist financing risk. The new procedures will be effective for examinations beginning February 1, 2026.

The OCC has also issued a request for information (RFI) on community banks’ engagement with their core service providers and other essential third-party service providers. The RFI includes questions on the challenges community banks face related to contract negotiations and terms, fees, billing practices, oversight, due diligence, innovation, core conversions, data access and modernization, and interoperability issues.

Author: sdbrownlow

Student of Design