As noted, this is not like the KYC proposal that came from the agencies; it is a statutory requirement. It will not be withdrawn.
Final regulations rarely expand the requirements of proposed regulations, that would nullify the value of the legally required comment period. In looking at the proposal, you have a good idea what the final regulations will look like. Expect the final version to include additional detail and more supplementary or explanatory information, but there should not be any surprises.
It would be a good idea for you to begin formulating draft policies and procedures based on the proposal. Your roundtables and focus groups are timely. We suggest you do some testing of enhanced identification requirements to make certain that what you are asking for is reasonable in your area. Think also about where you are going to keep the new documentation; e.g. consider a dedicated filing system, electronic or paper. However, wait until you have seen the final regulations before you take anything to the board for approval.
Andy notes the comment period ends on 9/6. If the regulatory agencies take only 30 days (they usually take 60+) to review those comments, that means the final regulations could come out as soon (?) as October 6, yet they would be effective on October 25. If you wait until you see final regulations to begin your efforts, your timeframe for designing a program, obtaining board approval and implementing it throughout your institution based on final regulations would be quite short. It seems exceptionally charitable to suggest the agencies acted promptly...
The effective date is set in stone, but regulations are often issued with a later date by which compliance is mandatory. We will all see whether that is appropriate or even possible with a law enforcement statute.
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.