On September 12, the FDIC issued a notice and request for comment in the Federal Register for the general public and other federal agencies to provide feedback on the FDIC’s intent to survey the costs for FDIC insured financial institutions associated with their Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) compliance efforts. The survey also seeks to determine additional expenses related to AML/CFT compliance efforts, such as where costs overlap with other activities like fraud and credit card monitoring. The FDIC expects to submit the information as a common form for use by other federal banking agencies and the NCUA to survey the broader banking and credit union industry.

The FDIC requests comments on the necessity and practical use of the collection of this information, the accuracy of its estimates on the burden to complete the survey, ways to enhance the quality and clarity of the information collected, and methods to minimize such burden, including through automated techniques. All comments must be submitted on or before November 12.