FinCEN Issues Exceptive Relief on a Bank Secrecy Act Requirement for Credit Unions

By NCUA — February 17, 2026

Alexandria, VA (February 17, 2026) ― Last week, the Financial Crimes Enforcement Network (FinCEN) announced a new Bank Secrecy Act regulatory relief opportunity regarding the Customer Due Diligence regulation.1

On February 13, 2026, FinCEN issued an Exceptive Order that removed the regulatory requirement for credit unions to identify and verify information for business customers each time the business customer opens a new account. Pursuant to FinCEN’s order, credit unions may limit identification and verification of these customers to the following circumstances:

This exceptive relief is optional, and credit unions are not required to use it. Credit unions must continue to comply with all anti-money laundering/countering the financing of terrorism requirements under the Bank Secrecy Act and its implementing regulations.

For additional information, please see FinCEN’s Announcement on Exceptive Relief for Customer Due Diligence. If you have any questions about the order, please contact FinCEN’s Regulatory Support Section by submitting an inquiry at www.fincen.gov/contact, or contact your examiner.

1 Per FinCEN regulation § 1020.210(a)(2)(v), all credit unions must develop and implement appropriate risk-based procedures for conducting ongoing customer due diligence.

The NCUA was created by the U.S. Congress to regulate, charter and supervise federal credit unions. With the backing of the full faith and credit of the United States, the NCUA operates and manages the Share Insurance Fund, insuring the deposits of more than 145 million account holders in all federal credit unions and most state-chartered credit unions.

Originally reported by NCUA.