On December 3, 2018, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network (FinCEN), the National Credit Union Administration, and the Office of the Comptroller of the Currency (collectively, the Agencies) issued a Joint Statement (click here) to encourage banks to consider, evaluate, and, where appropriate, responsibly implement innovative approaches to meet  Bank Secrecy Act/anti-money laundering (BSA/AML) compliance obligations commensurate with their risk profiles.

Full Memorandum