BN Business News
Business Maps⌕ Search Business News
Add your company to Business Communicator →

Finance & markets · 31/03/1999Updated: 10/17/2026 · 1 min read

Federal Reserve Withdraws Proposed 'Know Your Customer' Rule

Summary

The Federal Reserve Board withdrew its proposed rule requiring state banks and foreign banks to implement 'Know Your Customer' programs after receiving over 17,000 comments, mostly opposing the regulation.

Original source language: Federal Register — Federal ReserveOpen original release →

Explore insights

Business insights →
6

Finance & markets · 9/14/2026

Office of the Comptroller of the Currency, Federal Reserve Board, and Federal Deposit Insurance Corporation Jointly Issue Interim Final Rule on Examination Cycle for Small Insured Depository Institutions and Foreign Banks

The OCC, Board, and FDIC are jointly requesting public comment on an interim final rule that raises the asset threshold for certain small insured depository institutions to qualify for an 18-month on-site examination cycle, and makes parallel changes to the regulations governing the on-site examination cycle for U.S. branches and agencies of foreign banks, consistent with the International Banking Act of 1978.

Read summary →