Davis Polk AML/CFT head Dan Stipano was quoted in American Banker discussing an updated fact sheet issued by FinCEN, which allows banks to share information about suspected fraud with one another in real time. 

The article noted that the guidance represents FinCEN’s reading of the law, which has not been tested in court.

Dan noted that “banks have reason to want more than a fact sheet.” 

“The safe harbor has never been tested judicially, so it is not clear whether a court would agree with FinCEN’s interpretation,” said Dan.

He added that the guidance is “largely consistent with FinCEN’s prior interpretation.”

Dan pointed out that “[banks] can always be sued if a customer believes that their personal information was wrongfully disclosed,” and regulators will still check that any sharing followed the rules.

“Banks can share fraud data in real time, Fincen says,” American Banker (June 17, 2026) (subscription required)

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