31 CFR §1029.210 — Anti-money laundering programs for loan or finance companies

bsa-31cfr-1029-210

FinCEN rule for residential mortgage lenders/originators and other loan or finance companies — written AML program with four-pillar minimum content under 31 CFR §1029.210.

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source:
  type: regulation
  id: bsa-31cfr-1029.210
  authority: 31 CFR §1029.210 — Anti-money laundering programs for loan or finance companies
  description: |
    FinCEN rule for residential mortgage lenders/originators and other loan
    or finance companies — written AML program with four-pillar minimum
    content under 31 CFR §1029.210.
obligations:
  - id: bsa-31cfr-1029.210-a-written-aml-program
    canonical_id: bsa-31cfr-1029.210-a-written-aml-program
    section: 31 CFR §1029.210(a) — Written AML program for loan or finance companies
    description: |
      [LENDER] (as a loan or finance company under 31 CFR Part 1029) shall
      develop and implement a written anti-money laundering program that is
      reasonably designed to prevent [LENDER] from being used to facilitate
      money laundering or the financing of terrorist activities. The program
      shall be approved by senior management. [LENDER] shall make a copy of
      its anti-money laundering program available to the Financial Crimes
      Enforcement Network or its designee upon request.
    type: do
    audit_question: Can [LENDER] produce its written anti-money laundering program, demonstrate that it is reasonably designed to prevent [LENDER] from being used to facilitate money laundering or terrorist financing, evidence that senior management has approved the program, and show readiness to provide a copy to FinCEN or its designee upon request?
    program_review: Does [LENDER] maintain a written AML program reasonably designed to prevent [LENDER] from being used to facilitate money laundering or terrorist financing, approved by senior management, with a copy available to FinCEN or its designee on request? (The program IS the control — this is the program-level anchor.)
    file_review: Review the written program document, the senior-management approval record, and readiness to produce on request; the compliance person judges whether the program is reasonably designed for [LENDER]'s ML/TF risk.
    judgment: true
    feeds: []
    workflow_phase: governance
    owner_role: bsa_aml_officer
    secondary_owner_role: compliance_officer
    cadence: continuous
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - bsa
      - aml
      - aml-program
      - 31cfr-1029
      - promoted
    primary_source:
      tier: 1
      authority: 31 CFR §1029.210(a)
      source_class: fincen
      source_url: https://www.law.cornell.edu/cfr/text/31/1029.210
      snapshot_id: 832b56502664a1ab
      fetched_at: '2026-05-22T11:34:26Z'
      content_hash: sha256:e9c6547d5718ba392e38d411e9560459ac3a435513a9c2fd32a1138f426c7b34
      paragraph_quote: (a) Anti-money laundering program requirements for loan or finance companies. Each loan or finance company shall develop and implement a written anti-money laundering program that is reasonably designed to prevent the loan or finance company from being used to facilitate money laundering or the financing of terrorist activities. The program must be approved by senior management. A loan or finance company shall make a copy of its anti-money laundering program available to the Financial Crimes Enforcement Network or its designee upon request.
      drafter_attestation: |
        Copied verbatim from snapshot 832b56502664a1ab (content.txt) at
        2026-05-22T11:53Z. Substring corresponds to §1029.210(a) operative
        written-AML-program duty for loan or finance companies (which includes
        residential mortgage lenders and originators).
    promoted_at: '2026-05-22T11:52:38+00:00'
    promoted_from: bsa-31cfr-1029.210-roundb-v1.yaml
  - id: bsa-31cfr-1029.210-b-minimum-program-content
    canonical_id: bsa-31cfr-1029.210-b-minimum-program-content
    section: 31 CFR §1029.210(b) — Minimum AML program content (four pillars)
    description: |
      At a minimum, [LENDER]'s written anti-money laundering program shall (1)
      incorporate policies, procedures, and internal controls based on its risk
      assessment; (2) designate a compliance officer responsible for program
      implementation, updates, and training oversight; (3) provide for on-going
      training of appropriate persons; and (4) provide for independent testing
      to monitor and maintain an adequate program, with scope and frequency
      commensurate with the company's products-and-services risk.
    type: do
    audit_question: 'Can [LENDER] demonstrate that its AML program contains, at a minimum, all four §1029.210(b) elements: (1) risk-based policies/procedures/internal controls incorporating agents and brokers; (2) a designated AML compliance officer with the responsibilities enumerated in (b)(2); (3) on-going training of appropriate persons; and (4) independent testing of program adequacy?'
    program_review: Does the AML program contain all four §1029.210(b) elements — (1) risk-based policies/procedures/internal controls (incorporating agents and brokers), (2) a designated compliance officer with the (b)(2) responsibilities, (3) ongoing training of appropriate persons, and (4) independent testing commensurate with products-and-services risk?
    file_review: Read the program against the four pillars; confirm a named compliance officer, training records, and an independent-test report. The compliance person judges whether the risk-based controls and test scope are adequate.
    judgment: true
    feeds: []
    workflow_phase: governance
    owner_role: bsa_aml_officer
    secondary_owner_role: compliance_officer
    cadence: annual
    consequence: ''
    tags:
      - round-b
      - regulator-direct
      - bsa
      - aml
      - aml-program
      - four-pillars
      - 31cfr-1029
      - promoted
    primary_source:
      tier: 1
      authority: 31 CFR §1029.210(b)
      source_class: fincen
      source_url: https://www.law.cornell.edu/cfr/text/31/1029.210
      snapshot_id: 832b56502664a1ab
      fetched_at: '2026-05-22T11:34:26Z'
      content_hash: sha256:e9c6547d5718ba392e38d411e9560459ac3a435513a9c2fd32a1138f426c7b34
      paragraph_quote: '(b) Minimum requirements. At a minimum, the anti-money laundering program shall:'
      drafter_attestation: |
        Copied verbatim from snapshot 832b56502664a1ab (content.txt) at
        2026-05-22T11:53Z. Substring corresponds to §1029.210(b) operative
        minimum-requirements preamble. The (b)(1)-(4) sub-paragraphs
        enumerating the four pillars are referenced in description but not
        asserted as part of the quoted span.
    promoted_at: '2026-05-22T11:52:38+00:00'
    promoted_from: bsa-31cfr-1029.210-roundb-v1.yaml
  - id: bsa-31cfr-1029.210-b-minimum-program-content-enumerated-items
    canonical_id: bsa-31cfr-1029.210-b-minimum-program-content-enumerated-items
    section: 31 CFR §1029.210(b) — Minimum AML program content (four pillars) — enumerated items (chapeau recall fix)
    description: The enumerated provisions following the chapeau of 31 CFR §1029.210(b) — Minimum AML program content (four pillars), dropped by the original extraction and restored verbatim from the snapshot.
    type: do
    audit_question: ''
    program_review: ''
    file_review: ''
    judgment: false
    feeds: []
    workflow_phase: ''
    owner_role: ''
    secondary_owner_role: ''
    cadence: ''
    consequence: ''
    tags:
      - chapeau-recall
      - regulator-direct
      - promoted
    primary_source:
      tier: 1
      authority: 31 CFR §1029.210(b)
      source_class: fincen
      source_url: https://www.law.cornell.edu/cfr/text/31/1029.210
      snapshot_id: 832b56502664a1ab
      fetched_at: '2026-05-22T11:34:26Z'
      content_hash: sha256:e9c6547d5718ba392e38d411e9560459ac3a435513a9c2fd32a1138f426c7b34
      paragraph_quote: '(1) Incorporate policies, procedures, and internal controls based upon the loan or finance company''s assessment of the money laundering and terrorist financing risks associated with its products and services. Policies, procedures, and internal controls developed and implemented by a loan or finance company under this section shall include provisions for complying with the applicable requirements of subchapter II of chapter 53 of title 31, United States Code and this part, integrating the company''s agents and brokers into its anti-money laundering program, and obtaining all relevant customer-related information necessary for an effective anti-money laundering program. (2) Designate a compliance officer who will be responsible for ensuring that:'
      drafter_attestation: Captured verbatim (whitespace-normalized) from snapshot 832b56502664a1ab as the enumerated list immediately following the chapeau 'the anti-money laundering program shall:'. List boundary captured conservatively — REVIEW the end boundary before promote.
    promoted_at: '2026-06-16T19:35:50+00:00'
    promoted_from: bsa-31cfr-1029.210-chapeau-recall-v1.yaml
    source_provenance:
      source_id: bsa-31cfr-1029.210
      fetched_at: '2026-05-22T11:34:26Z'
      content_hash: sha256:e9c6547d5718ba392e38d411e9560459ac3a435513a9c2fd32a1138f426c7b34
  - id: bsa-31cfr-1029.210-b-minimum-program-content-enumerated-items-enumerated-items
    canonical_id: bsa-31cfr-1029.210-b-minimum-program-content-enumerated-items-enumerated-items
    section: 31 CFR §1029.210(b) — Minimum AML program content (four pillars) — enumerated items (chapeau recall fix) — enumerated items (chapeau recall fix)
    description: The enumerated provisions following the chapeau of 31 CFR §1029.210(b) — Minimum AML program content (four pillars) — enumerated items (chapeau recall fix), dropped by the original extraction and restored verbatim from the snapshot.
    type: do
    audit_question: ''
    program_review: ''
    file_review: ''
    judgment: false
    feeds: []
    workflow_phase: ''
    owner_role: ''
    secondary_owner_role: ''
    cadence: ''
    consequence: ''
    tags:
      - chapeau-recall
      - regulator-direct
      - promoted
    primary_source:
      tier: 1
      authority: 31 CFR §1029.210(b)
      source_class: fincen
      source_url: https://www.law.cornell.edu/cfr/text/31/1029.210
      snapshot_id: 832b56502664a1ab
      fetched_at: '2026-05-22T11:34:26Z'
      content_hash: sha256:e9c6547d5718ba392e38d411e9560459ac3a435513a9c2fd32a1138f426c7b34
      paragraph_quote: (i) The anti-money laundering program is implemented effectively, including monitoring compliance by the company's agents and brokers with their obligations under the program; (ii) The anti-money laundering program is updated as necessary; and (iii) Appropriate persons are educated and trained in accordance with paragraph (b)(3) of this section.
      drafter_attestation: Captured verbatim (whitespace-normalized) from snapshot 832b56502664a1ab as the enumerated list immediately following the chapeau 'o will be responsible for ensuring that:'. List boundary captured conservatively — REVIEW the end boundary before promote.
    promoted_at: '2026-06-16T19:38:22+00:00'
    promoted_from: bsa-31cfr-1029.210-chapeau-recall-v1.yaml
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      source_id: bsa-31cfr-1029.210
      fetched_at: '2026-05-22T11:34:26Z'
      content_hash: sha256:e9c6547d5718ba392e38d411e9560459ac3a435513a9c2fd32a1138f426c7b34
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    candidates_promoted: 0
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Verbatim regulatory text (4)

Verbatim provisions from 31 CFR §1029.210 — Anti-money laundering programs for loan or finance companies — each quote is a verified substring of the regulator-published source snapshot, not retyped. Quoted for reference; this is not legal advice. The operational layer (P&P updates, prompts) lives in the regulation update kits.

31 CFR §1029.210(a) — Written AML program for loan or finance companies

(a) Anti-money laundering program requirements for loan or finance companies. Each loan or finance company shall develop and implement a written anti-money laundering program that is reasonably designed to prevent the loan or finance company from being used to facilitate money laundering or the financing of terrorist activities. The program must be approved by senior management. A loan or finance company shall make a copy of its anti-money laundering program available to the Financial Crimes Enforcement Network or its designee upon request.

Source: 31 CFR §1029.210(a) · source URL · snapshot 832b56502664a1ab

31 CFR §1029.210(b) — Minimum AML program content (four pillars)

(b) Minimum requirements. At a minimum, the anti-money laundering program shall:

Source: 31 CFR §1029.210(b) · source URL · snapshot 832b56502664a1ab

31 CFR §1029.210(b) — Minimum AML program content (four pillars) — enumerated items (chapeau recall fix)

(1) Incorporate policies, procedures, and internal controls based upon the loan or finance company's assessment of the money laundering and terrorist financing risks associated with its products and services. Policies, procedures, and internal controls developed and implemented by a loan or finance company under this section shall include provisions for complying with the applicable requirements of subchapter II of chapter 53 of title 31, United States Code and this part, integrating the company's agents and brokers into its anti-money laundering program, and obtaining all relevant customer-related information necessary for an effective anti-money laundering program. (2) Designate a compliance officer who will be responsible for ensuring that:

Source: 31 CFR §1029.210(b) · source URL · snapshot 832b56502664a1ab

31 CFR §1029.210(b) — Minimum AML program content (four pillars) — enumerated items (chapeau recall fix) — enumerated items (chapeau recall fix)

(i) The anti-money laundering program is implemented effectively, including monitoring compliance by the company's agents and brokers with their obligations under the program; (ii) The anti-money laundering program is updated as necessary; and (iii) Appropriate persons are educated and trained in accordance with paragraph (b)(3) of this section.

Source: 31 CFR §1029.210(b) · source URL · snapshot 832b56502664a1ab