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ABA: The American Bankers Association
Compliance News

Joint Trades Letter on the FFIEC AML Exam Manual and AML Reform Efforts

ABA and five other trade associations thanked the banking agencies for issuing the first update to the BSA Exam Manual. In the joint letter, the associations also requested for an industry-wide discussion on the revised sections of the BSA Exam Manual, examiner training plans, and additional regulatory guidance that will clarify institutions' ability to shift resources from compliance practices with limited risk management value toward higher value activities, particularly in light of COVID-19 resource constraints. For more information, contact Rob Rowe.