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TREAS/FINCEN

RIN: 1506-AA85

Publication ID: Spring 2009

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

Timetable:

Action	Date	FR Cite
ANPRM	05/00/2009

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