Bank Secrecy Act Advisory Group; Solicitation of Application for Membership, 87053-87054 [2023-27620]

Download as PDF Federal Register / Vol. 88, No. 240 / Friday, December 15, 2023 / Notices ddrumheller on DSK120RN23PROD with NOTICES1 national banks must record certain home loan data if they: (1) are otherwise required to maintain and report data pursuant to Regulation C,2 which implements the Home Mortgage Disclosure Act (HMDA),3 in which case they are HMDA reporters, or (2) receive more than 50 home loan applications annually. Specifically, national banks that are HMDA reporters meet the part 27 requirement by recording HMDA data along with the reasons for denying any loan application on the HMDA Loan Application/Register (LAR).4 A national bank that is not a HMDA reporter but that receives more than 50 home loan applications annually must comply with part 27 by either: (1) recording and reporting HMDA data and denial reasons on the LAR as if they were a HMDA reporter,5 or (2) recording and maintaining part 27-specified activity data relating to aggregate numbers of certain types of loans by geography and action taken.6 Part 27 also requires that all national banks, including those not subject to the recording requirements, maintain certain application and loan information in loan files. Part 27 further provides that the OCC may require national banks to maintain and submit additional information if there is reason to believe that the bank engaged in discrimination. The requirements in part 27 are as follows: Section 27.3(a)(1) requires provision of the data that national banks are required to collect on home loans pursuant to Regulation C.7 Sections 27.3(a)(2) and (3) require national banks that receive more than 50 applications but are not HMDA reporters to collect certain information quarterly. Section 27.3(a) also lists exceptions to the HMDA–LAR recordkeeping requirements. Section 27.3(b) lists the information national banks must attempt to obtain from an applicant as part of a home loan application and sets forth the information that banks must disclose to an applicant. Section 27.3(c) sets forth additional information national banks must maintain in each of their home loan files. Currency, et al., 78 FRD. 543, 544 (D.D.C. May 3, 1978). See also 44 FR 63084, November 2, 1979. 2 12 CFR part 1003. 3 12 U.S.C. 2801 et seq. 4 12 CFR 27.3(a)(1)(i). 5 12 CFR 27.3(a)(5). 6 12 CFR 27.3(a)(2). 7 The quarterly recordkeeping requirements under 12 CFR 27.3(a) do not add any burden because they are duplicative of the recordkeeping requirements under 12 CFR 1003.4(f). See OMB control number 1557–0345. VerDate Sep<11>2014 17:57 Dec 14, 2023 Jkt 262001 Section 27.4 states that the OCC may require a national bank to maintain a Fair Housing Inquiry/Application Log found in Appendix III to part 27 including if: (1) there is reason to believe that the bank is prescreening, or otherwise engaging in discriminatory practices on a prohibited basis, (2) complaints filed with the Comptroller or letters in the Community Reinvestment Act file are found to be substantive in nature, indicating that the bank’s home lending practices are, or may be, discriminatory, or (3) analysis of the data compiled by the bank under HMDA and Regulation C indicates a pattern of significant variation in the number of home loans between census tracts with similar incomes and home ownership levels differentiated only by race or national origin. Section 27.5 requires a national bank to maintain the information required by § 27.3 for 25 months after the bank notifies the applicant of action taken on an application or after withdrawal of an application. Section 27.7 requires a national bank to submit to the OCC, upon request prior to a scheduled examination, the information required by §§ 27.3(a) and 27.4. Non-HMDA reporters with more than 50 applications are required to submit this data using the Monthly Home Loan Activity Format form in Appendix I to part 27 and the Home Loan Data Submission Form in Appendix IV to part 27, except that there is an additional exclusion for national banks with fewer than 75 applications. Specifically, § 27.7(c)(3) states that a bank with fewer than 75 home loan applications in the preceding year is not required to submit such forms unless the home loan activity is concentrated in the few months preceding the request for data, indicating the likelihood of increased activity over the subsequent year, or there is cause to believe that a bank is not in compliance with the fair housing laws based on prior examinations and/ or complaints, among other factors. Section 27.7(d) provides that if there is cause to believe that a national bank is in noncompliance with fair housing laws, the Comptroller may require submission of additional Home Loan Data Submission Forms. The Comptroller may also require submission of the information maintained under § 27.3(a) and Home Loan Data Submission Forms at more frequent intervals than specified. Burden Estimates Estimated Number of Respondents: 702. PO 00000 Frm 00181 Fmt 4703 Sfmt 4703 87053 Estimated Total Annual Burden: 12,632 hours. Estimated Frequency of Response: On occasion. Affected Public: Businesses or other for-profit. Comments submitted in response to this notice will be summarized and 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 OCC, including whether the information has practical utility; (b) The accuracy of the OCC’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 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. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2023–27517 Filed 12–14–23; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Financial Crimes Enforcement Network Bank Secrecy Act Advisory Group; Solicitation of Application for Membership Financial Crimes Enforcement Network (‘‘FinCEN’’), Treasury. ACTION: Notice and request for nominations. AGENCY: FinCEN is inviting the public to nominate financial institutions, trade groups, and non-federal regulators or law enforcement agencies for membership in the Bank Secrecy Act Advisory Group. New members will be selected for three-year membership terms. DATES: Nominations must be received by January 16, 2024. ADDRESSES: Nominations must be emailed to BSAAG@fincen.gov. FOR FURTHER INFORMATION CONTACT: FinCEN Regulatory Support Section at frc@fincen.gov. SUPPLEMENTARY INFORMATION: Section 1564 of the Annunzio-Wylie AntiSUMMARY: E:\FR\FM\15DEN1.SGM 15DEN1 ddrumheller on DSK120RN23PROD with NOTICES1 87054 Federal Register / Vol. 88, No. 240 / Friday, December 15, 2023 / Notices Money Laundering (AML) Act of 1992 required the Secretary of the Treasury to establish a Bank Secrecy Act Advisory Group (BSAAG) consisting of representatives from federal agencies, and other interested persons and financial institutions subject to the regulatory requirements of the Bank Secrecy Act, found at 31 CFR chapter X. The BSAAG is the means by which the Treasury receives advice on the reporting requirements of the Bank Secrecy Act, and informs private sector representatives on how the information they provide is used. As chair of the BSAAG, the Director of FinCEN is responsible for ensuring that relevant issues are placed before the BSAAG for review, analysis, and discussion. BSAAG membership is open to financial institutions, trade groups, and Federal and non-Federal regulators and law enforcement agencies that are located within the United States. In September of 2022, FinCEN published a final rule 1 establishing a beneficial ownership information reporting requirement, pursuant to the Corporate Transparency Act. The rule will require most corporations, limited liability companies, and other entities created or registered to do business in the United States to report information about their beneficial owners, the persons who ultimately own or control the company, to FinCEN. We invite firms, trade groups, and Federal and State governmental entities within the United States that are affected by and connected to compliance with the new rule to express interest in BSAAG membership, with a clear explanation on how their perspectives can enhance the broader BSAAG discussions. We also continue to welcome nominations from other eligible entities that can actively share their perspectives on a variety of Bank Secrecy Act requirements. Each member selected will serve a three-year term and must designate one individual to represent that member at plenary meetings. While BSAAG membership is granted to organizations, not to individuals, the designated representative for each selected organization should be knowledgeable about Bank Secrecy Act requirements and be willing and able to devote the necessary time and effort on behalf of the representative’s organization. Members are expected to actively share anecdotal perspectives, quantifiable insights on BSA requirements, and 1 ‘‘FinCEN Issues Final Rule for Beneficial Ownership Reporting to Support Law Enforcement Efforts, Counter Illicit Finance, and Increase Transparency’’. 87 FR 59498, September 30, 2022. VerDate Sep<11>2014 17:57 Dec 14, 2023 Jkt 262001 industry trends in BSAAG discussions. The organization’s representative must be able to attend biannual plenary meetings, generally held in Washington, DC, over one or two days, generally in May and October. Additional BSAAG meetings may be held by phone, videoconference, or in person, and the organization’s representative is expected to actively engage in the BSAAG’s work through participation in meetings of various BSAAG Subcommittees and/or working groups, including Subcommittees established pursuant to the Anti-Money Laundering Act of 2020 (AML Act).2 Members will not be paid for their time, services, or travel. Nominations for individuals who are not representing an organization will not be considered, but organizations may nominate themselves. Please provide complete answers to the following items, as nominations will be evaluated based on the information provided in response to this notice and request for nominations. There is no required format; interested organizations may submit their nominations via email or email attachment. Nominations should consist of: • Name of the organization requesting membership • Point of contact, title, address, email address, and phone number • Description of the financial institution or trade group and its involvement with the Bank Secrecy Act and/or Corporate Transparency Act. • Reasons why the organization’s participation on the BSAAG will bring value to the group • Trade groups must submit a full list of their members along with their nomination. Trade groups must also confirm that, if selected, they will only share BSAAG information with their members that are located within the United States. In making the selections, FinCEN will seek to complement current BSAAG members and obtain comprehensive representation in terms of affiliation, industry, and geographic representation. The Director of FinCEN retains full discretion on all membership decisions. The Director may consider prior years’ applications when making selections and will not limit consideration to 2 The AML Act was enacted as Division F, sections 6001–6511, of the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021, Public Law 116–283 (2021). The AML Act, among other provisions, mandated the creation of a BSAAG Subcommittee on Innovation and Technology (Section 6207) and a BSAG Subcommittee on Information Security and Confidentiality (Section 6302). PO 00000 Frm 00182 Fmt 4703 Sfmt 4703 institutions nominated by the public when making selections. Andrea M. Gacki, Director, Financial Crimes Enforcement Network. [FR Doc. 2023–27620 Filed 12–14–23; 8:45 am] BILLING CODE 4810–02–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Notice of OFAC Sanctions Actions Office of Foreign Assets Control, Treasury. ACTION: Notice. AGENCY: The U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is publishing the names of one or more persons that have been placed on OFAC’s Specially Designated Nationals and Blocked Persons List (SDN List) based on OFAC’s determination that one or more applicable legal criteria were satisfied. All property and interests in property subject to U.S. jurisdiction of these persons are blocked, and U.S. persons are generally prohibited from engaging in transactions with them. DATES: See Supplementary Information section for effective date(s). FOR FURTHER INFORMATION CONTACT: OFAC: Bradley T. Smith, Director, tel.: 202–622–2490; Associate Director for Global Targeting, tel.: 202–622–2420; Assistant Director for Licensing, tel.: 202–622–2480; Assistant Director for Regulatory Affairs, tel.: 202–622–4855; or the Assistant Director for Compliance, tel.: 202–622–2490. SUPPLEMENTARY INFORMATION: SUMMARY: Electronic Availability The SDN List and additional information concerning OFAC sanctions programs are available on OFAC’s website (https://www.treasury.gov/ofac). Notice of OFAC Actions On December 6, 2023, OFAC determined that the property and interests in property subject to U.S. jurisdiction of the following persons are blocked under the relevant sanctions authority listed below. Individuals 1. ALEMAN MEZA, Oscar, Mexico; DOB 17 Apr 1962; POB Sinaloa, Mexico; nationality Mexico; Gender Male; C.U.R.P. AEMO620417HSLLZS07 (Mexico) (individual) [ILLICIT–DRUGS– EO14059]. Designated pursuant to section 1(a)(i) of E.O. 14059 for having engaged in, or E:\FR\FM\15DEN1.SGM 15DEN1

Agencies

[Federal Register Volume 88, Number 240 (Friday, December 15, 2023)]
[Notices]
[Pages 87053-87054]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-27620]


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

DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Bank Secrecy Act Advisory Group; Solicitation of Application for 
Membership

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

ACTION: Notice and request for nominations.

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

SUMMARY: FinCEN is inviting the public to nominate financial 
institutions, trade groups, and non-federal regulators or law 
enforcement agencies for membership in the Bank Secrecy Act Advisory 
Group. New members will be selected for three-year membership terms.

DATES: Nominations must be received by January 16, 2024.

ADDRESSES: Nominations must be emailed to [email protected].

FOR FURTHER INFORMATION CONTACT: FinCEN Regulatory Support Section at 
[email protected].

SUPPLEMENTARY INFORMATION: Section 1564 of the Annunzio-Wylie Anti-

[[Page 87054]]

Money Laundering (AML) Act of 1992 required the Secretary of the 
Treasury to establish a Bank Secrecy Act Advisory Group (BSAAG) 
consisting of representatives from federal agencies, and other 
interested persons and financial institutions subject to the regulatory 
requirements of the Bank Secrecy Act, found at 31 CFR chapter X. The 
BSAAG is the means by which the Treasury receives advice on the 
reporting requirements of the Bank Secrecy Act, and informs private 
sector representatives on how the information they provide is used. As 
chair of the BSAAG, the Director of FinCEN is responsible for ensuring 
that relevant issues are placed before the BSAAG for review, analysis, 
and discussion.
    BSAAG membership is open to financial institutions, trade groups, 
and Federal and non-Federal regulators and law enforcement agencies 
that are located within the United States. In September of 2022, FinCEN 
published a final rule \1\ establishing a beneficial ownership 
information reporting requirement, pursuant to the Corporate 
Transparency Act. The rule will require most corporations, limited 
liability companies, and other entities created or registered to do 
business in the United States to report information about their 
beneficial owners, the persons who ultimately own or control the 
company, to FinCEN. We invite firms, trade groups, and Federal and 
State governmental entities within the United States that are affected 
by and connected to compliance with the new rule to express interest in 
BSAAG membership, with a clear explanation on how their perspectives 
can enhance the broader BSAAG discussions. We also continue to welcome 
nominations from other eligible entities that can actively share their 
perspectives on a variety of Bank Secrecy Act requirements.
---------------------------------------------------------------------------

    \1\ ``FinCEN Issues Final Rule for Beneficial Ownership 
Reporting to Support Law Enforcement Efforts, Counter Illicit 
Finance, and Increase Transparency''. 87 FR 59498, September 30, 
2022.
---------------------------------------------------------------------------

    Each member selected will serve a three-year term and must 
designate one individual to represent that member at plenary meetings. 
While BSAAG membership is granted to organizations, not to individuals, 
the designated representative for each selected organization should be 
knowledgeable about Bank Secrecy Act requirements and be willing and 
able to devote the necessary time and effort on behalf of the 
representative's organization. Members are expected to actively share 
anecdotal perspectives, quantifiable insights on BSA requirements, and 
industry trends in BSAAG discussions. The organization's representative 
must be able to attend biannual plenary meetings, generally held in 
Washington, DC, over one or two days, generally in May and October. 
Additional BSAAG meetings may be held by phone, videoconference, or in 
person, and the organization's representative is expected to actively 
engage in the BSAAG's work through participation in meetings of various 
BSAAG Subcommittees and/or working groups, including Subcommittees 
established pursuant to the Anti-Money Laundering Act of 2020 (AML 
Act).\2\ Members will not be paid for their time, services, or travel.
---------------------------------------------------------------------------

    \2\ The AML Act was enacted as Division F, sections 6001-6511, 
of the William M. (Mac) Thornberry National Defense Authorization 
Act for Fiscal Year 2021, Public Law 116-283 (2021). The AML Act, 
among other provisions, mandated the creation of a BSAAG 
Subcommittee on Innovation and Technology (Section 6207) and a BSAG 
Subcommittee on Information Security and Confidentiality (Section 
6302).
---------------------------------------------------------------------------

    Nominations for individuals who are not representing an 
organization will not be considered, but organizations may nominate 
themselves. Please provide complete answers to the following items, as 
nominations will be evaluated based on the information provided in 
response to this notice and request for nominations. There is no 
required format; interested organizations may submit their nominations 
via email or email attachment. Nominations should consist of:
     Name of the organization requesting membership
     Point of contact, title, address, email address, and phone 
number
     Description of the financial institution or trade group 
and its involvement with the Bank Secrecy Act and/or Corporate 
Transparency Act.
     Reasons why the organization's participation on the BSAAG 
will bring value to the group
     Trade groups must submit a full list of their members 
along with their nomination. Trade groups must also confirm that, if 
selected, they will only share BSAAG information with their members 
that are located within the United States.
    In making the selections, FinCEN will seek to complement current 
BSAAG members and obtain comprehensive representation in terms of 
affiliation, industry, and geographic representation. The Director of 
FinCEN retains full discretion on all membership decisions. The 
Director may consider prior years' applications when making selections 
and will not limit consideration to institutions nominated by the 
public when making selections.

Andrea M. Gacki,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2023-27620 Filed 12-14-23; 8:45 am]
BILLING CODE 4810-02-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.