View Rule

View EO 12866 Meetings Printer-Friendly Version     Download RIN Data in XML
TREAS/FINCEN RIN: 1506-AB02 Publication ID: Spring 2010 
Title: Financial Crimes Enforcement Network: Anti-Money Laundering Program and Suspicious Activity Report Requirements for Non-Bank Residential Mortgage Lenders and Originators  
Abstract: FinCEN is issuing this advance notice of proposed rulemaking (ANPRM) to solicit public comment on a wide range of questions pertaining to the possible application of anti-money laundering (AML) program and suspicious activity report (SAR) regulations to a specific sub-set of loan and finance companies: Non-bank residential mortgage lenders and originators. FinCEN seeks comment on: An incremental approach to the issuance of regulations for loan and finance companies that would initially affect only those persons engaged in non-bank residential mortgage lending or origination; how any such regulations should define persons engaged in nonbank residential mortgage lending or origination; the financial crime and money laundering risks posed by such persons; how AML programs for such persons should be structured; whether such persons should be covered by BSA requirements other than the AML program requirement, including SAR reporting; and whether any such persons should be exempted from AML program or SAR reporting requirements. 
Agency: Department of the Treasury(TREAS)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 31 CFR 103   
Legal Authority: PL 91-508   
Legal Deadline:  None
Timetable:
Action Date FR Cite
ANPRM  07/21/2009  74 FR 35830   
ANPRM Comment Period End  08/20/2009    
NPRM  04/00/2010    
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Michael Vallely
Senior Regulatory Program Manager
Department of the Treasury
Financial Crimes Enforcement Network
2070 Chain Bridge Road,
Vienna, VA 22183-2536
Phone:703 905-3851
Email: michael.vallely@fincen.gov