FRB and FinCEN Propose Significant Amendments to Recordkeeping and Travel Rule Regulations

On Oct. 23, 2020, the U.S. Department of the Treasury, Financial Crimes Enforcement Network (FinCEN) and the Board of Governors of the Federal Reserve System (FRB) (FinCEN and the FRB collectively, the Agencies), issued a joint notice of proposed rulemaking (Proposed Rule) that would amend the Recordkeeping Rule and Travel Rule regulations issued under the Bank Secrecy Act (BSA).

Read the full GT Alert, “FRB and FinCEN Propose Significant Amendments to Recordkeeping and Travel Rule Regulations.”