The U.S. Financial Services Committee said Chairman French Hill and Subcommittee Chairman Warren Davidson sent a letter to Financial Crimes Enforcement Network Director Andrea Gacki urging FinCEN to finalize its anti-money laundering and countering the financing of terrorism rule in a way that reduces unnecessary compliance burdens, raises outdated reporting thresholds, encourages AI-driven risk monitoring and refocuses the Bank Secrecy Act on actionable intelligence for law enforcement.
U.S. Financial Services Committee2026-06-17
U.S. Financial Services Committee urges FinCEN to finalize AML CFT rule with higher reporting thresholds and lower compliance burdens
The U.S. Financial Services Committee said two House committee leaders urged FinCEN to finalize its AML/CFT rule with lower compliance burdens, higher reporting thresholds, support for AI-driven risk monitoring and a stronger focus on actionable intelligence for law enforcement.