The Financial Crimes Enforcement Network (FinCEN), a bureau of the Department of the Treasury, issued this final rule to make a number of technical amendments to its Bank Secrecy Act (BSA) regulations. More... This final rule updates various sections of the regulations implementing the BSA by removing or replacing outdated references to obsolete BSA forms, removing references to outdated recordkeeping storage media, and replacing several other outdated terms and references. The final rule became effective November 4, 2016 (Department of the Treasury, Financial Crimes Enforcement Network at 3-1700) and was published in the Federal Register on November 4, 2016.

The Consumer Financial Protection Bureau (CFPB) is making certain clerical and non-substantive corrections to errors it has identified in Regulation E, which implements the Electronic Fund Transfer Act. These corrections became effective November 14, 2016 (Consumer Financial Protection Bureau, Regulation E at 6-5300) and were published in the Federal Register on October 12, 2016.

The Board, the Farm Credit Administration, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency are issuing a new proposal to amend their regulations regarding loans in areas having special flood hazards to implement the private flood insurance provisions of the Biggert-Waters Flood Insurance Reform Act of 2012 (Biggert-Waters Act). More... Specifically, the proposed rule would require regulated lending institutions to accept policies that meet the statutory definition of private flood insurance in the Biggert-Waters Act and permit regulated lending institutions to accept flood insurance provided by private insurers that does not meet the statutory definition of “private flood insurance” on a discretionary basis, subject to certain restrictions. Comments on this notice of proposed rulemaking must be received by January 6, 2017 (Docket R-1549).