Entries by Kristin Lee

20 08 '26

OCC Proposes Easing Non-Public Information Disclosure Rules and Removing Criminal Penalty References

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On August 3, 2026, the OCC proposed a significant overhaul of its rules governing the disclosure of non-public OCC information, including confidential supervisory information (CSI). The proposal would expand the circumstances in which financial institutions may share CSI without prior OCC approval—including with affiliates, service providers, M&A counterparties and certain advisers—and would remove the rules’ express reference to potential criminal liability for unauthorized disclosures.

While the changes could make navigating NPOI substantially easier, they may also create new compliance considerations. As institutions gain greater flexibility to share sensitive supervisory information, they may need to reassess contractual protections and controls designed to prevent recipients from misusing that information.

We examine the proposed framework, the OCC’s shift away from criminal enforcement, and the practical implications for financial institutions and their counsel.  Click here to read the full post.

20 07 '26

Beyond AML: FinCEN and FDIC Clarify That Section 314(b) Safe Harbor Extends to Fraud Prevention

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The Financial Crimes Enforcement Network’s (FinCEN) June 12, 2026 guidance, along with the Federal Deposit Insurance Corporation’s (FDIC) July 9, 2026 Financial Institution Letter, signal a significant shift in how regulators expect financial institutions to use Section 314(b) of the USA PATRIOT Act.

Historically viewed as an anti-money laundering (AML) information-sharing tool, Section 314(b) is now expressly recognized as a mechanism for combating fraud. The updated guidance confirms that financial institutions may rely on the provision’s safe harbor to share information relating to suspected fraud, encourages real-time collaboration among institutions, and highlights the role of Section 314(b) in improving suspicious activity reporting and detecting illicit activity more quickly.

Our latest blog post examines the agencies’ expanded interpretation of Section 314(b), including the broader range of fraud-related information that may be shared, FinCEN’s encouragement of joint suspicious activity report (SAR) filings and proactive information sharing, and the governance, compliance, and supervisory considerations for institutions evaluating or expanding their Section 314(b) programs. The post also explores how the guidance reflects the continued convergence of fraud prevention and AML compliance and what these developments may mean for financial institutions’ information-sharing practices and supervisory expectations. Read the full post here.