Skip to content

Effective date of OFAC Cuban Assets Control amendments


OFAC has published [84 FR 47121] a final rule amending the Cuban Assets Control Regulations to further implement elements of U.S. foreign policy toward Cuba. The rule amends and, in one case, removes certain authorizations for remittances to Cuba, and the rule also amends the general license relating to ‘‘U-turn’’ financial transactions to eliminate the authorization to process such transactions and instead only allow the rejection of such transactions. Additionally, the rule adds restrictions on "family remittances," eliminates the authorization for donative remittances, and adds a provision to authorize unlimited remittances to certain additional self-employed individuals.

The rule provides a 30-day implementation period, making it effective October 9, 2019, to allow for technical implementation of the added restrictions.

Penalties View All

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Compliance Deadlines

By Status