Bank Wire – FFIEC updates BSA/AML examination manual

Description

Abstract: This summary of recent developments in banking discusses several significant revisions to the FFIEC’s Bank Secrecy Act/ Anti-Money Laundering Examination Manual. It also notes that the OCC has proposed an update to its regulations that permits banks to hold in-person meetings, and that in June the OCC released its Spring 2020 Semiannual Risk Perspective, reporting key issues facing the federal banking system. In addition, the article points out that the FFIEC recently provided cloud computing guidance.