Proposed Information Collection; Comment Request; Renewal Without Change of Bank Secrecy Act Suspicious Activity Reporting Requirement for Residential Mortgage Lenders and Originators, 7526-7527 [2015-02732]

Download as PDF rljohnson on DSK3VPTVN1PROD with NOTICES 7526 Federal Register / Vol. 80, No. 27 / Tuesday, February 10, 2015 / Notices Docket No. 2004–19380). Both UPS and United claim that the information, although ten years old, is so sensitive that each company would suffer ‘‘competitive harm’’ if the BTS releases the information. In its letter, UPS maintains that the information is still ‘‘commercially sensitive’’ based on three main points: (1) Disclosure of the data diminishes competition among the major aircraft manufacturers; engine manufacturers, and new and used aircraft owners and lessors who can use the commercially sensitive data to closely track UPS’ acquisition and retirement costs; (2) disclosure of the data impairs competition among competing domestic and foreign airlines in the international arena, because United States airlines are required to reveal major elements of their cost structures when their foreign competitors are not; and (3) the Securities and Exchange Commission (SEC) has determined that these data should be withheld from public disclosure. In addition, UPS requested that the Department withhold the information under Exemptions 3 and 4 of the Freedom of Information Act (FOIA) (See 5 U.S.C. 552(b)(3) and 4)). Exemption 3 allows the withholding of information if the disclosure is prohibited by another statute and the statute either: ‘‘(A) requires that the matters be withheld from the public in such a manner as to leave no discretion on the issue, or (B) establishes particular criteria for withholding or refers to particular types of matters to be withheld;’’ (see 5 U.S.C. 552(b)(3)). UPS stated that a provision in the United States Code (see 49 U.S.C. 40115) qualifies as an Exemption 3 statute in that the statute allows the Department to order certain information withheld from public disclosure if the disclosure would ‘‘have an adverse effect on the competitive position of an air carrier in foreign air transportation.’’ (See 49 U.S.C. 40115(a)(2)(B)). In light of its objections, UPS requested that ‘‘the Department continue to afford confidential treatment to Form 41, Schedules B–7 and B–43 and that such confidential treatment be continued indefinitely or, at a minimum, for [another] ten (10) years.’’ United requested an extension based on the fact that prices have changed little since the 1992 to 1996 period. According to United, its ‘‘747s delivered in 1994 . . . have aircraft/engine prices which are the same as the prices of the later delivered 747s, except for some minor changes due to price escalation provisions and any minor configuration changes.’’ United also claimed that VerDate Sep<11>2014 15:20 Feb 09, 2015 Jkt 235001 Exemptions 3 and 4 of FOIA protected this information from disclosure. United also cited the fact that the SEC had provided a period of confidentiality for this information. Thus, United requested that the BTS extend its period of confidentiality until December 31, 2006, the expiration date for the SEC confidentiality period. Ten years have passed since the initial confidential treatment period, and BTS is again asking whether we should increase the confidentiality period for certain airframe and aircraft engine cost data, or release the data to the public. Issued in Washington, DC, on February 5, 2015. William Chadwick, Jr., Director, Office of Airline Information, Bureau of Transportation Statistics. [FR Doc. 2015–02665 Filed 2–9–15; 8:45 am] BILLING CODE 4910–9X–P DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network Proposed Information Collection; Comment Request; Renewal Without Change of Bank Secrecy Act Suspicious Activity Reporting Requirement for Residential Mortgage Lenders and Originators Financial Crimes Enforcement Network (‘‘FinCEN’’), Treasury. ACTION: Notice and request for comments. AGENCY: FinCEN invites all interested parties to comment on its proposed renewal without change of the Bank Secrecy Act (‘‘BSA’’) Suspicious Activity Reporting requirements for residential mortgage lenders and originators. FinCEN intends to submit this requirement for approval by the Office of Management and Budget (‘‘OMB’’) of a three-year extension of Control Number 1506–0061. This request for comments is made pursuant to the Paperwork Reduction Act (‘‘PRA’’) of 1995, Public Law 104–13, 44 U.S.C. 3506(c)(2)(A). DATES: Written comments should be received on or before April 13, 2015 to be assured of consideration. ADDRESSES: Written comments should be submitted to: Policy Division, Financial Crimes Enforcement Network, U.S Department of the Treasury, P.O. Box 39, Vienna, VA 22183. Attention: PRA Comments—BSA Suspicious Activity Reporting Requirement for residential mortgage lenders and originators. Comments also may be SUMMARY: PO 00000 Frm 00125 Fmt 4703 Sfmt 4703 submitted by electronic mail to the following Internet address: regcomments@fincen.gov with the caption in the body of the text, ‘‘Attention: PRA Comments—BSA Suspicious Activity Reporting Requirements 1506–0061.’’ It is preferable for comments to be submitted by electronic mail. Please submit comments by one method only. All submissions received must include the agency name and the specific OMB control number for this notice. Inspection of comments. Comments may be inspected, between 10 a.m. and 4 p.m., in the FinCEN reading room in Vienna, VA. Persons wishing to inspect the comments submitted must request an appointment with the Disclosure Officer by telephoning (703) 905–5034 (not a toll free call). FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at 800–767– 2825 or email frc@fincen.gov. SUPPLEMENTARY INFORMATION: The BSA, Titles I and II of Public Law 91–508, as amended, codified at 12 U.S.C. 1829(b), 12 U.S.C.1951–1959, and 31 U.S.C. 5311–5332, authorizes the Secretary of the Treasury, among other things, to require financial institutions to keep records and file reports that are determined to have a high degree of usefulness in criminal, tax, and regulatory matters, or in the conduct of intelligence or counter-intelligence activities to protect against international terrorism, and to implement countermoney laundering programs and compliance procedures.1 Regulations implementing Title II of the BSA appear at 31 CFR Chapter X. The authority of the Secretary of the Treasury to administer the BSA has been delegated to the Director of FinCEN. The information collected and retained under the regulation addressed in this notice assists Federal, state, and local law enforcement as well as regulatory authorities in the identification, investigation, and prosecution of money laundering and other matters. In accordance with the requirements of the PRA, 44 U.S.C. 3506(c)(2)(A), and its implementing regulations, the following information is presented concerning the recordkeeping requirements listed below. Title: Suspicious Activity Report by Residential Mortgage Lenders and Originators. OMB Number: 1506–0061. 1 Language expanding the scope of the Bank Secrecy Act to intelligence or counter-intelligence activities to protect against international terrorism was added by Section 358 of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, P.L. 107–56. E:\FR\FM\10FEN1.SGM 10FEN1 rljohnson on DSK3VPTVN1PROD with NOTICES Federal Register / Vol. 80, No. 27 / Tuesday, February 10, 2015 / Notices Abstract: In accordance with 31 CFR 1029.320, covered financial institutions are required to report suspicious activity and maintain the records for a period of five years. Covered financial institutions may satisfy these requirements by using their internal records management system. Current Action: Renewal without change to the existing regulations. Type of Review: Extension of currently approved reporting requirement. Affected Public: Businesses or other for-profit institutions, and non-profit institutions. Burden: The administrative burden of 1 hour is assigned to maintain the requirement in force. The burden for actual reporting is reflected in OMB Control number 1506–0065. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless the collection of information displays a valid OMB control number. Records required to be retained under the BSA must be retained for five years. Generally, information collected pursuant to the BSA is confidential, but may be shared as provided by law with regulatory and law enforcement authorities. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval. All comments will become a matter of public record. Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the agency, including whether the information shall have practical utility; (b) the accuracy of the agency’s estimate of the burden of the collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance and purchase of services to provide information. Dated: February 3, 2015. Jennifer Shasky Calvery, Director, Financial Crimes Enforcement Network. [FR Doc. 2015–02732 Filed 2–9–15; 8:45 am] BILLING CODE 4810–2P–P VerDate Sep<11>2014 15:20 Feb 09, 2015 Jkt 235001 DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network Proposed Collection; Comment Request; Renewal Without Change of the Registration of Money Services Business, FinCEN Form 107 Financial Crimes Enforcement Network (‘‘FinCEN’’), Treasury. ACTION: Notice and request for comments. AGENCY: As part of its continuing effort to reduce paperwork and respondent burden, FinCEN invites comment on a renewal without change to a currently approved information collection contained in the Registration of Money Services Business, FinCEN Form 107. The form will be used by dealers in foreign exchange, check cashers, issuers or sellers of traveler’s checks or money orders, issuers, sellers, or redeemers of stored value, and money transmitters to register with the Department of the Treasury as required by statute. This request for comments is being made pursuant to the Paperwork Reduction Act of 1995, Public Law 104–13, 44 U.S.C. 3506(c)(2)(A). DATES: Written comments are welcome and must be received on or before April 13, 2015. ADDRESSES: Written comments should be submitted to: Policy Division, Financial Crimes Enforcement Network, U.S Department of the Treasury, P.O. Box 39, Vienna, VA 22183. Attention: PRA Comments—MSB RegistrationForm 107. Comments also may be submitted by electronic mail to the following Internet address: regcomments@fincen.gov, again with a caption, in the body of the text, ‘‘Attention: PRA Comments—MSB Registration-Form 107.’’ Please cite specific OMB Control Number(s) listed above when commenting. Instructions. It is preferable for comments to be submitted by electronic mail. Please submit comments by one method only. All submissions received must include the agency name and the specific OMB control number for this notice. Inspection of comments. Comments may be inspected, between 10 a.m. and 4 p.m., in the FinCEN reading room in Vienna, VA. Persons wishing to inspect the comments submitted must request an appointment with the Disclosure Officer by telephoning (703) 905–5034 (not a toll free call). FOR FURTHER INFORMATION CONTACT: The FinCEN Regulatory helpline at (800) 767–2825 or email frc@fincen.gov. SUMMARY: PO 00000 Frm 00126 Fmt 4703 Sfmt 4703 7527 The statute generally referred to as the ‘‘Bank Secrecy Act,’’ Titles I and II of Public Law 91–508, as amended, codified at 12 U.S.C. 1829b, 12 U.S.C. 1951–1959, and 31 U.S.C. 5311–5330, authorizes the Secretary of the Treasury, among other things, to issue regulations requiring records and reports that are determined to have a high degree of usefulness in criminal, tax, and regulatory matters, or in the conduct of intelligence or counter-intelligence activities to protect against international terrorism, and to implement countermoney laundering programs and compliance procedures.1 Regulations implementing Title II of the Bank Secrecy Act (codified at 31 U.S.C. 5311– 5330) appear at 31 CFR Chapter X. The authority of the Secretary to administer the Bank Secrecy Act has been delegated to the Director of FinCEN. Title: Registration of Money Services Business. OMB Number: 1506–0013. Form Number: FinCEN Form 107. Abstract: Under 31 U.S.C. 5330 and its implementing regulations, money services businesses must register with the Department of the Treasury, maintain a list of their agents, and renew their registration every two years. Currently, money services businesses register by filing FinCEN Form 107, which is being renewed without change. The information collected on the form is required to comply with 31 U.S.C. 5330 and its implementing regulations. The information will be used to assist supervisory and law enforcement agencies in the enforcement of criminal, tax, and regulatory laws and to prevent money services businesses from being used by those engaging in money laundering. The collection of information is mandatory. Current Actions: The current Form 107 and instructions are being renewed without change. Type of Review: Renewal of currently approved collection report. Affected Public: Individuals, business or other for-profit institutions, and notfor-profit institutions. Frequency: As required. Estimated Burden: Reporting average of 30 minutes per response; recordkeeping average of 30 minutes per response. Estimated Number of Respondents: 42,000. SUPPLEMENTARY INFORMATION: 1 Language expanding the scope of the Bank Secrecy Act to intelligence or counter-intelligence activities to protect against international terrorism was added by Section 358 of the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107–56. E:\FR\FM\10FEN1.SGM 10FEN1

Agencies

[Federal Register Volume 80, Number 27 (Tuesday, February 10, 2015)]
[Notices]
[Pages 7526-7527]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2015-02732]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Proposed Information Collection; Comment Request; Renewal Without 
Change of Bank Secrecy Act Suspicious Activity Reporting Requirement 
for Residential Mortgage Lenders and Originators

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Treasury.

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: FinCEN invites all interested parties to comment on its 
proposed renewal without change of the Bank Secrecy Act (``BSA'') 
Suspicious Activity Reporting requirements for residential mortgage 
lenders and originators. FinCEN intends to submit this requirement for 
approval by the Office of Management and Budget (``OMB'') of a three-
year extension of Control Number 1506-0061. This request for comments 
is made pursuant to the Paperwork Reduction Act (``PRA'') of 1995, 
Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).

DATES: Written comments should be received on or before April 13, 2015 
to be assured of consideration.

ADDRESSES: Written comments should be submitted to: Policy Division, 
Financial Crimes Enforcement Network, U.S Department of the Treasury, 
P.O. Box 39, Vienna, VA 22183. Attention: PRA Comments--BSA Suspicious 
Activity Reporting Requirement for residential mortgage lenders and 
originators. Comments also may be submitted by electronic mail to the 
following Internet address: regcomments@fincen.gov with the caption in 
the body of the text, ``Attention: PRA Comments--BSA Suspicious 
Activity Reporting Requirements 1506-0061.'' It is preferable for 
comments to be submitted by electronic mail. Please submit comments by 
one method only. All submissions received must include the agency name 
and the specific OMB control number for this notice.
    Inspection of comments. Comments may be inspected, between 10 a.m. 
and 4 p.m., in the FinCEN reading room in Vienna, VA. Persons wishing 
to inspect the comments submitted must request an appointment with the 
Disclosure Officer by telephoning (703) 905-5034 (not a toll free 
call).

FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at 800-767-
2825 or email frc@fincen.gov.

SUPPLEMENTARY INFORMATION: The BSA, Titles I and II of Public Law 91-
508, as amended, codified at 12 U.S.C. 1829(b), 12 U.S.C.1951-1959, and 
31 U.S.C. 5311-5332, authorizes the Secretary of the Treasury, among 
other things, to require financial institutions to keep records and 
file reports that are determined to have a high degree of usefulness in 
criminal, tax, and regulatory matters, or in the conduct of 
intelligence or counter-intelligence activities to protect against 
international terrorism, and to implement counter-money laundering 
programs and compliance procedures.\1\
---------------------------------------------------------------------------

    \1\ Language expanding the scope of the Bank Secrecy Act to 
intelligence or counter-intelligence activities to protect against 
international terrorism was added by Section 358 of the Uniting and 
Strengthening America by Providing Appropriate Tools Required to 
Intercept and Obstruct Terrorism Act of 2001, P.L. 107-56.
---------------------------------------------------------------------------

    Regulations implementing Title II of the BSA appear at 31 CFR 
Chapter X. The authority of the Secretary of the Treasury to administer 
the BSA has been delegated to the Director of FinCEN. The information 
collected and retained under the regulation addressed in this notice 
assists Federal, state, and local law enforcement as well as regulatory 
authorities in the identification, investigation, and prosecution of 
money laundering and other matters. In accordance with the requirements 
of the PRA, 44 U.S.C. 3506(c)(2)(A), and its implementing regulations, 
the following information is presented concerning the recordkeeping 
requirements listed below.
    Title: Suspicious Activity Report by Residential Mortgage Lenders 
and Originators.
    OMB Number: 1506-0061.

[[Page 7527]]

    Abstract: In accordance with 31 CFR 1029.320, covered financial 
institutions are required to report suspicious activity and maintain 
the records for a period of five years. Covered financial institutions 
may satisfy these requirements by using their internal records 
management system.
    Current Action: Renewal without change to the existing regulations.
    Type of Review: Extension of currently approved reporting 
requirement.
    Affected Public: Businesses or other for-profit institutions, and 
non-profit institutions.
    Burden: The administrative burden of 1 hour is assigned to maintain 
the requirement in force. The burden for actual reporting is reflected 
in OMB Control number 1506-0065.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Records required to be 
retained under the BSA must be retained for five years. Generally, 
information collected pursuant to the BSA is confidential, but may be 
shared as provided by law with regulatory and law enforcement 
authorities.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance and purchase of services to provide information.

    Dated: February 3, 2015.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2015-02732 Filed 2-9-15; 8:45 am]
BILLING CODE 4810-2P-P

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