Payments & E-Money regulatory updates from United States.
We track 22 Payments & E-Money updates from United States regulators, published by CFTC, OCC and FinCEN. The archive covers 9 news items, 4 consultations and 4 enforcement actions. Most recent update: September 2026.
Notice of proposed rulemaking. The FDIC is proposing amendments to its regulations to recognize parity between out-of-State State banks and national banks concerning the application of host State laws when State banks provide services outside of their chartering State. Under the proposed rule, when host State laws do…
Why this matters
This is a proposed rulemaking (not final) by the FDIC addressing parity between State-chartered banks and national banks regarding application of host State laws when providing services outside their chartering State.
The Office of the Comptroller of the Currency (OCC), jointly with the Financial Crimes Enforcement Network (FinCEN), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration, issued answers to frequently asked questions (FAQ) related…
Why this matters
This is a multi-agency FAQ bulletin providing authoritative clarification on how banks must treat state-issued mobile driver's licenses and other verifiable digital credentials under BSA/AML CIP requirements.
Order. FinCEN is issuing this Geographic Targeting Order, requiring certain money services businesses along the southwest border of the United States to report and retain records of transactions in currency of $1,000 or more, but not more than $10,000, and to verify the identity of persons presenting such transactions.
Why this matters
This is a final rule (not a proposal) issued by FinCEN under delegated authority from the Treasury Secretary under 31 U.S.C. 5326. It creates new legal obligations for covered money services businesses to report currency transactions of $1,000–$10,000 (below the standard $10,000 CTR threshold) in specified zip codes...
Proposed rule. The U.S. Securities and Exchange Commission ("SEC" or "Commission") is proposing to adopt new rules, amend existing rules, amend the existing form for registration with the Commission as a transfer agent (Form TA-1) and the existing form for reporting activities of transfer agents (Form TA-2), and…
Why this matters
This is a SEC proposed rule (not final) that amends multiple transfer agent rules (17ac2-1, 17ac2-2, 17ad-1 through 17ad-17) and introduces two new rules (17ad-30 on compliance, 17ad-31 on restrictive legends).
Notice of proposed rulemaking. FinCEN is issuing a notice of proposed rulemaking, pursuant to section 311 of the USA PATRIOT Act, that finds the five United Arab Emirates-based branches of Banque Misr (collectively, Banque Misr UAE) to be of primary money laundering concern and proposes imposing a special measure to…
Why this matters
This is a Notice of Proposed Rulemaking (NPRM) under section 311 of the USA PATRIOT Act by FinCEN designating Banque Misr UAE as a financial institution of primary money laundering concern due to facilitation of Iranian shadow banking (USD 1.8 billion identified). The proposed special measure five prohibits U.S.
Comptroller of the Currency Jonathan V. Gould today discussed the Office of the Comptroller of the Currency's (OCC) work under the leadership of President Donald J. Trump and U.S. Secretary of the Treasury Scott Bessent to support the Administration's efforts to grow the economy and lead the global digital currency…
Why this matters
This is a news release documenting a Comptroller speech at an industry event. It contains noteworthy regulatory signals: (1) an eightfold increase in digital asset-related bank charter applications (23 of 40 recent applications), (2) confirmation that a final GENIUS Act rule will be issued by November 2026, and (3)...
Order. FinCEN is issuing this Geographic Targeting Order, requiring banks and money transmitters located in the Counties of Hennepin and Ramsey, Minnesota to retain and report records of certain payments of $3,000 or more.
AI Analysis
FinCEN issued a Geographic Targeting Order effective August 11, 2026 that requires banks and money transmitters with a branch, subsidiary, or office in Hennepin County or Ramsey County, Minnesota to retain and report records for certain covered international funds transfers of $3,000 or more. The stated purpose is to support Bank Secrecy Act enforcement and Treasury’s efforts to combat international money laundering tied to government benefits fraud in Minnesota.
Key dates
2026-08-11
Effective date of the Geographic Targeting Order
2027-02-06 Deadline
Order period ends after 180 days unless renewed
Suggested considerations
Compliance teams may wish to identify all branches, subsidiaries, and offices in Hennepin and Ramsey Counties and map which payment flows meet the Order’s definition of a Covered Transaction.
Firms may wish to update transaction-monitoring and customer due diligence workflows to capture the additional data elements required for bank or money transmitter reports, including beneficiary or recipient contact details and government-benefits-related funding questions.
Operational teams may wish to confirm readiness to submit reports through the FI Portal and to generate the required CSV files using the Minnesota Fraud GTO template and naming convention.
Records-management teams may wish to set a retention control ensuring all reports and related compliance records are preserved for five years from the last day the Order is effective.
Banks and money transmitters may wish to review whether any existing BSA or sanctions screening processes can be leveraged to identify covered international transfers meeting the $3,000 threshold.
Compliance teams may wish to test month-end reporting processes so filings occur by the end of the month following the month in which each Covered Transaction took place.
What changed
The Order creates a temporary, geographically targeted recordkeeping and reporting regime under 31 CFR Part 1010 for covered institutions in Hennepin and Ramsey Counties. A “Covered Business” is any bank under 31 CFR 1010.100(d) or money transmitter under 31 CFR 1010.100(ff)(5) with a branch, subsidiary, or office in the covered area.
Compliance impact
This is a high-severity, binding temporary reporting and recordkeeping obligation for affected institutions in two Minnesota counties. The Order states that noncompliance may trigger consequences under the Bank Secrecy Act framework and requires records to be available to FinCEN or other appropriate law enforcement or regulatory agencies upon request.
PRESS RELEASE | AUGUST 4, 2026 FDIC Approves the Deposit Insurance Application for Augustus National Bank, N.A., Dallas, Texas WASHINGTON — The Federal Deposit Insurance Corporation (FDIC) today approved a deposit insurance application for Augustus National Bank, N.A. (Augustus National Bank), a newly chartered…
Why this matters
This is a press release announcing FDIC approval of deposit insurance for a newly chartered national bank (Augustus National Bank). The bank has a specialized business model targeting digital asset companies, crypto services, and stablecoin issuance.
CFTC enforcement action against UBS Financial Services for AML transaction monitoring failures in FX wire transfers. Informational news announcement of settled charges involving supervision deficiencies and system configuration issues. Relevant to banking/trading sectors and AML compliance operations.
On July 31, 2026, staffs of the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the National Credit Union Administration (collectively, the agencies), issued a statement of enforcement policy in support of U.S…
AI Analysis
On July 31, 2026, the OCC, Federal Reserve, FDIC, and NCUA issued a joint enforcement policy supporting humanitarian relief and financial stability efforts in Venezuela after major earthquakes. The policy matters because it creates a temporary enforcement safe harbor for eligible U.S. financial institutions that provide authorized financial services to persons or entities in Venezuela, reducing BSA-related supervisory risk during the relief period.
Key dates
2026-06-24
Venezuela experienced a pair of strong earthquakes off the northern coast west of Caracas, triggering the humanitarian crisis referenced by the agencies.
2026-07-27
FinCEN issued a substantively similar statement of enforcement policy regarding Venezuela-related financial services.
2026-07-31
The OCC, Federal Reserve, FDIC, and NCUA issued the joint enforcement policy.
2026-07-31
Start of the period during which authorized financial services to persons or entities in Venezuela are covered by the enforcement commitment.
2027-01-29 Deadline
End of the covered period for the joint enforcement commitment.
Suggested considerations
Compliance teams may wish to confirm whether current Venezuela-related activity falls within the scope of authorized financial services covered by the joint statement.
Institutions may wish to verify that their BSA compliance program remains current and that ongoing controls reflect reasonable efforts to comply during the relief period.
Firms may wish to check whether they have had any final FinCEN or OCC enforcement action involving BSA violations in the prior 24 months before relying on the policy.
Sanctions teams may wish to confirm continued compliance with all applicable OFAC-administered sanctions regulations and authorizations.
Institutions with Venezuela exposure may wish to document how they will evidence reliance on the policy and monitor the January 29, 2027 end date.
What changed
The agencies stated that eligible U.S. financial institutions that choose to provide authorized financial services to persons or entities in Venezuela will not be subject to supervisory action, including a citation for a violation of law, or enforcement action related to a Bank Secrecy Act requirement, for those services. The commitment is limited to authorized financial services provided from 2026-07-31 through 2027-01-29 and applies only to statutes or regulations specifically addressed in the joint statement.
Compliance impact
The immediate impact is moderate but targeted: institutions that qualify gain temporary relief from BSA-related supervisory and enforcement action for Venezuela-related authorized services. The agencies still expect compliance with applicable BSA requirements and OFAC sanctions, and the safe harbor is unavailable to institutions with recent final BSA enforcement actions or inadequate ongoing compliance efforts.
Notice of proposed rulemaking; extension of comment period. FinCEN is extending the comment period for the referenced notice of proposed rulemaking (NPRM) it published to amend the existing definition of Huione Group to include, within the definition of that group, H-Pay Service PLC, and adding and defining the term…
AI Analysis
FinCEN extended the comment period for its June 2026 proposed rule amending the Huione Group definition to add H-Pay Service PLC and define “successor entity.” The extension matters because FinCEN said a portal technology failure prevented electronic comments for six days, so it gave the public additional time to submit input.
Key dates
2026-06-25
FinCEN published the underlying NPRM to amend the Huione Group definition
2026-06-25
Electronic comment filing became unavailable due to a portal issue
2026-06-30
Portal issue period ended after six days of blocked electronic filing
2026-07-22
FinCEN dated the comment-period extension notice
2026-07-24
Federal Register publication of the extension notice at 91 FR 46761
2026-08-02 Deadline
Extended deadline for written comments on the NPRM
Suggested considerations
Consider whether to submit comments on the NPRM by the extended deadline of 2026-08-02.
Review customer, correspondent, and payment relationships for any exposure to Huione Group, H-Pay Service PLC, or entities that may be treated as successor entities if the proposal is finalized.
Assess whether internal screening, escalation, and due diligence procedures would need updates if FinCEN finalizes the expanded definition.
Monitor FinCEN’s final action on the NPRM and any resulting special-measures scope changes under 31 CFR 1010.
What changed
This publication does not impose a new final obligation; it extends the public comment deadline for an existing NPRM. The underlying proposal would amend FinCEN’s definition of Huione Group, a financial institution operating outside the United States of primary money laundering concern, to include H-Pay Service PLC and to add a defined term for “successor entity.” The extension was granted because a technological issue with the comment portal prevented electronic filing from June 25 through June 30, 2026.
Compliance impact
The immediate compliance impact is limited because this is a procedural extension, not a binding substantive rule. The practical significance is that the proposal signals FinCEN’s intent to broaden the Huione Group definition, which could affect screening, correspondent-account controls, and transaction monitoring if finalized.
Speech At “Next-Gen Financial Inclusion,” the third annual Financial Inclusion Conference hosted by the Federal Reserve Board, Washington, D.C. (via pre-recorded video)
Why this matters
This is a speech by Vice Chair Bowman at the Federal Reserve's Financial Inclusion Conference addressing responsible innovation, particularly AI adoption in banking. The content provides supervisory expectations and regulatory philosophy rather than binding obligations.
Federal Reserve issues initial findings from its 2025 triennial payments study
Why this matters
This is a press release announcing initial findings from the Federal Reserve's triennial payments study conducted every three years since 2001. The content reports aggregate statistics on noncash payment volumes and trends (cards, ACH, checks) without introducing new regulations, guidance, or enforcement actions.
The Office of the Comptroller of the Currency (OCC) is issuing a notice of proposed rulemaking to implement Bank Secrecy Act (BSA) and sanctions compliance standards applicable to OCC-supervised permitted payment stablecoin issuers (PPSI), as required by the Guiding and Establishing National Innovation for U.S…
AI Analysis
The OCC issued a notice of proposed rulemaking on June 22, 2026 to implement Bank Secrecy Act and sanctions compliance standards for OCC-supervised permitted payment stablecoin issuers under the GENIUS Act. The proposal matters because it would formalize AML/CFT and OFAC compliance expectations, create an OCC enforcement framework, and establish a consultation channel with FinCEN for significant actions.
Key dates
2026-06-22
OCC bulletin announcing the notice of proposed rulemaking was issued
2026-07-22 Deadline
Planned deadline for comments, if the Federal Register publication date aligns with the bulletin date and the OCC’s 30-day comment period is measured from publication
Suggested considerations
Compliance teams may wish to assess whether the entity falls within the OCC-supervised PPSI category or within the state-qualified issuer population covered by OCC authority under the GENIUS Act.
Firms may wish to review existing AML/CFT and sanctions controls against the BSA, FinCEN, and OFAC requirements referenced in the proposal, including reporting, monitoring, and risk assessment procedures.
Compliance teams may wish to map governance, escalation, and record-sharing workflows to the proposed OCC-FinCEN consultation framework, particularly for potential significant supervisory or enforcement matters.
Firms may wish to consider whether their current policies, procedures, and internal controls are sufficiently tailored to stablecoin-specific risks and whether additional board or senior management oversight would be needed.
Compliance teams may wish to evaluate whether they should submit comments during the 30-day Federal Register comment period if aspects of the proposed framework could affect operating models or compliance design.
What changed
The proposed rule would require OCC-supervised PPSIs to comply with the BSA, sections 4(a)(5) and 4(a)(6)(B) of the GENIUS Act, and applicable FinCEN and OFAC regulations, including AML/CFT program, sanctions program, and reporting requirements. It would also create a supervision and enforcement framework for PPSI AML/CFT programs, so the OCC can take AML/CFT supervisory and enforcement action against covered issuers.
The rule would establish a formal consultation process between the OCC and FinCEN when the OCC intends to initiate an AML/CFT enforcement action or a significant AML/CFT...
Compliance impact
The proposal signals a material increase in AML/CFT and sanctions compliance scrutiny for OCC-supervised stablecoin issuers, with explicit supervisory and enforcement consequences for program deficiencies. The OCC describes a framework that could support significant supervisory action or enforcement action, making program design, governance, and escalation controls more consequential for affected issuers.
Speech At the Fifth Conference on the International Roles of the Dollar, Board of Governors of the Federal Reserve System, Washington, D.C.
Why this matters
This is a welcoming speech by Fed Governor Waller at a conference on the international role of the U.S. dollar, with specific focus on how stablecoins and distributed ledger technologies are reshaping payment systems, foreign exchange markets, and dollar intermediation.
CFTC request for information on regulatory barriers for fintech partnerships with federally regulated institutions. Focuses on streamlining processes and facilitating innovation in derivatives/trading and payments sectors. Informational RFI with 21-day comment period; no immediate compliance deadline.
CFTC announces establishment of joint data standards under Financial Data Transparency Act of 2022, affecting multiple financial regulatory agencies and market participants. This is informational guidance on standardized data reporting requirements across banking, capital markets, and payments sectors.
This speech by CFTC Director of Enforcement David I. Miller outlines the Division's five core enforcement priorities for 2026—insider trading (especially in prediction markets), market manipulation, market abuse/disruptive trading, retail fraud, and willful AML/KYC violations—while announcing the end of "regulation by enforcement" and previewing a new cooperation policy with enhanced declination incentives. It matters because it signals a targeted, risk-based enforcement shift under Chairman Selig, emphasizing fraud detection over rulemaking, which demands immediate strengthening of surveillance, insider policies, and self-reporting in derivatives, crypto, and prediction markets. Firms face heightened scrutiny in these areas, with cooperation now explicitly tied to penalty mitigation.
Key dates
March 31, 2026
Speech delivery; Outlines priorities and previews new cooperation policy advisory
Soon after March 31, 2026
New cooperation policy advisory issuance; Expected imminently; firms should monitor CFTC site for formal release
Suggested considerations
Enhance surveillance: Implement robust monitoring for insider trading in prediction markets, manipulation in energy, disruptive trading, retail fraud signals, and AML/KYC red flags; prioritize misappropriated nonpublic info detection.
Update policies: Revise insider trading protocols to align with CEA anti-fraud provisions; train staff on prediction market risks (debunking "no insider laws apply" myth).
Strengthen cooperation readiness: Develop self-reporting/escalation processes, remediation plans, and documentation for declination credit under forthcoming policy; review prior CFTC advisories (e.g., 2025 mitigation matrix).
Conduct gap analysis: Audit AML/KYC programs for willful violations; assess exposure in priority markets (energy, prediction/crypto, retail).
Monitor updates: Subscribe to CFTC Press Room for cooperation advisory and related actions (e.g., Feb 25, 2026 Prediction Markets Advisory post-enforcement cases: https://www.cftc.gov/PressRoom/PressReleases/9185-26).
What changed
- End of "regulation by enforcement": CFTC Enforcement will focus solely on policing fraud, abuse, and manipulation under existing CEA anti-fraud provisions, avoiding policy-setting via enforcement...
Five explicit enforcement priorities:
1. Insider trading, with strong emphasis on prediction markets (e.g., misappropriation of nonpublic information violates CEA).
2.
New cooperation policy advisory (forthcoming soon): Includes "significant changes" to declination policy, building on prior frameworks like mitigation-credit matrices and safe harbors for...
Compliance impact
Urgency: High – This immediate post-appointment speech (March 31, 2026) sets 2026 priorities amid CFTC's expanding oversight of dynamic markets like prediction/crypto/swaps, with Director Miller's prosecutor background signaling aggressive pursuit of "serious violations." Firms risk enforcement in core fraud areas without proactive surveillance/cooperation; aligns with "back-to-basics" trends but elevates prediction market insider risks, demanding swift program updates to leverage new declination incentives.
The CFTC issued FAQs on March 20, 2026, providing clarification on how registered entities and market participants should handle crypto assets and blockchain technologies in their operations, building directly on the agency's tokenized collateral guidance and no-action relief issued in late 2025 and early 2026. This guidance is critical because it operationalizes the SEC-CFTC joint interpretation issued just three days earlier (March 17, 2026), which established a binding regulatory framework classifying 16 crypto assets as digital commodities and clarifying the treatment of non-security crypto assets under federal law.
Key dates
March 17, 2026
SEC-CFTC Joint Interpretation Effective; The foundational joint interpretation establishing crypto asset taxonomy and digital commodity classification became effective upon Federal Register publication
March 20, 2026
FAQs Published; CFTC Market Participants Division and Division of Clearing and Risk issue clarifying FAQs effective immediately
January 18, 2027 (Estimated)
GENIUS Act Stablecoin Exclusion; Final implementing rules for payment stablecoins issued by permitted issuers; interim staff position applies now
Within 30–60 Days Deadline
Disclosure & Program Updates; Firms must revise Form ADV, disclosure documents, offering materials, and custodial arrangements to reflect the new regulatory framework
Immediate Deadline
Compliance Review Required; Asset classification audits, staking arrangement reviews, and investment contract assessments must begin now; enforcement posture is live
Suggested considerations
*Immediate (0–30 days):
*Asset Classification Audit: Map every crypto asset in your portfolios, products, or platforms against the five-category framework (digital commodities, digital collectibles, digital tools, stablecoins, digital securities) established in the March 17 joint interpretation.
*Investment Contract Review: Identify any assets subject to active issuer promises of essential managerial effort—those remain securities regardless of category and cannot be treated as digital commodities.
*FAQ Implementation Review: Obtain and review the full CFTC FAQs (available at https://www.cftc.gov/PressRoom/PressReleases/9200-26) to identify specific operational questions relevant to your entity type.
*Notification Protocol Establishment: If relying on the no-action relief for tokenized collateral, establish procedures to notify the CFTC of significant operational, system, or cybersecurity issues affecting digital asset collateral use (required for first three months of relief).
What changed
The CFTC FAQs address implementation questions arising from two prior staff positions:
Tokenized Collateral Guidance (CFTC Staff Letter 25-39): Established the framework allowing futures commission merchants (FCMs) and designated contract markets (DCMs) to accept digital assets as...
No-Action Position (CFTC Staff Letter 26-05): Provided temporary relief permitting FCMs to accept payment stablecoins, Bitcoin, and Ether as customer margin collateral, subject to specific...
How registered entities should operationalize tokenized collateral acceptance
Compliance with notification and operational risk management requirements
This regulatory update announces the appointment of a new executive director at the Commodity Futures Trading Commission (CFTC), which is relevant for firms in the banking, capital markets, and payments sectors.
This regulatory update from the CFTC is relevant to firms involved in the payment stablecoin ecosystem, including banks, fintechs, and payment providers. It updates the definition of 'payment stablecoin' to include those issued by national trust banks, which is an important development in the regulation of this...
This regulatory update from the CFTC is relevant to banking, capital markets, and payments firms as it announces the sponsorship of the Agricultural Advisory Committee (AAC) by the CFTC Chairman. This committee provides advice on agricultural derivatives market regulation, which impacts firms across these sectors.