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OCC Bulletin 2020-101
November 19, 2020
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Chief Executive Officers of All National Banks, Federal Savings Associations, and Federal Branches and Agencies; Department and Division Heads; All Examining Personnel; and Other Interested Parties
The Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Financial Crimes Enforcement Network (FinCEN), and the National Credit Union Administration (collectively, the agencies) today issued a joint fact sheet recognizing the important role of charities and other nonprofit organizations during the coronavirus pandemic. The joint fact sheet clarifies how banks1 may provide services to charities and other nonprofit organizations consistent with FinCEN's risk-based approach for conducting customer due diligence.
The joint fact sheet applies to the OCC's supervision of community banks.
The joint fact sheet
Please contact Jim Vivenzio, Acting Director for BSA/AML Policy, at (202) 649-5470.
Grovetta N. Gardineer
Senior Deputy Comptroller for Bank Supervision Policy
1 "Banks" refers collectively to national banks, federal savings associations, and federal branches and agencies of foreign banking organizations.