The Financial Crimes Enforcement Network has extended for 30 additional days its temporary suspension of the beneficial ownership requirements for certificate of deposit rollovers and loans that renew automatically. The temporary suspension will now expire on Sept. 8. FinCEN is working to finalize a more permanent solution in response to concerns raised by ABA and others in the banking industry. 

As part of the ongoing effort to help banks comply with the customer due diligence rule--which took effect May 11--FinCEN has created an informational webpage that pulls together various documents on the rule.

• Read more about the extension.
• View the webpage.
• For more information, contact ABA's Rob Rowe.