Comment from Financial Technology Association
Financial Technology AssociationSupportAdvocacy
Summary: The Financial Technology Association (FTA) supports the proposed rule to reform AML/CFT program requirements, praising its shift toward a risk-based approach and the use of innovative technologies. However, they request specific regulatory language to protect institutions from penalties for good-faith resource redeployment, a longer 24-month implementation timeline, and the extension of "significant or systemic" enforcement thresholds to non-bank financial institutions.
See attached file(s)