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TREAS/FINCEN | RIN: 1506-AA85 | Publication ID: Fall 2008 |
Title: Provision of Banking Services to Money Services Businesses | |
Abstract: We are issuing this advance notice of proposed rulemaking (Advance Notice) as a part of our ongoing effort to address, in the context of the Bank Secrecy Act, the issue of access to banking services by money services businesses. Both the banking industry and the money service business industry have expressed concerns with regard to the impact of Bank Secrecy Act regulations on the ability of money service businesses to open and maintain accounts and obtain other financial services at banks and other depository institutions. Due to the concerns about the effect of regulatory requirements on the provision of banking services to money services businesses, we, through the Non-Bank Financial Institutions and the Examinations subcommittees of the Bank Secrecy Act Advisory Group, held a fact-finding meeting on March 8, 2005, to hear directly from banks, other depository institutions, and money services businesses concerning the challenges that they face on this issue. | |
Agency: Department of the Treasury(TREAS) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Prerule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 31 CFR 103 | |
Legal Authority: 31 USC 5311 to 5330 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
Public Comment URL: regcomments@fincen.gov | |
RIN Data Printed in the FR: No | |
Agency Contact: Office of Regulatory Policy & Programs Department of the Treasury Financial Crimes Enforcement Network Suite 4600, 1099 14th Street NW., Washington, DC 20005 Phone:202 654-6400 |