Department of the Treasury April 24, 2008 – Federal Register Recent Federal Regulation Documents

Financial Crimes Enforcement Network; Proposed Amendments to the Bank Secrecy Act Regulations-Exemptions From the Requirement To Report Transactions in Currency; Comment Request
Document Number: E8-8955
Type: Proposed Rule
Date: 2008-04-24
Agency: Department of the Treasury, Department of Treasury
FinCEN is proposing to amend the Bank Secrecy Act (BSA) regulation that allows depository institutions to exempt transactions of certain persons from the requirement to report transactions in currency in excess of $10,000. Modification of the currency transaction report exemption procedures is a part of the Department of the Treasury's continuing effort to increase the efficiency and effectiveness of its anti-money laundering and counter-terrorist financing policies.
Regulatory Review Amendments
Document Number: E8-8443
Type: Rule
Date: 2008-04-24
Agency: Office of the Comptroller of the Currency, Department of Treasury, Department of the Treasury, Comptroller of the Currency
The Office of the Comptroller of the Currency (OCC) is revising its rules in order to reduce unnecessary regulatory burden, update certain rules, and make certain technical, clarifying, and conforming changes to its regulations. These revisions result from the OCC's most recent review of its regulations to ensure that they effectively advance our mission to promote the safety and soundness of the national banking system, ensure that national banks can compete efficiently in the financial services marketplace, and foster fairness and integrity in national banks' dealings with their customers, without imposing regulatory burden unnecessary to the achievement of those objectives. The revisions also further the purposes of the Economic Growth and Regulatory Paperwork Reduction Act of 1996, which, among other provisions, directs the OCC to identify and, if appropriate, eliminate regulations that are outdated, unnecessary, or unduly burdensome.
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