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TREAS/FINCEN RIN: 1506-AB45 Publication ID: Fall 2020 
Title: ●Withdraw Obsolete Civil Money Penalty Provisions for BSA Violations 
Abstract:

FinCEN, a bureau of the Department of the Treasury (Treasury), is amending 31 CFR 1010.820 to withdraw the civil money penalty provisions for Bank Secrecy Act (BSA) violations that are obsolete. Statutory amendments have been made to specific civil BSA penalties since the regulation was last revised.  In addition, the Federal Civil Penalties Inflation Adjustment Act of 1990, 28 U.S.C. 2461 note, as amended requires agencies to issue regulations making annual adjustments reflecting the effect of inflation for civil penalties expressed in terms of a dollar amount. Those inflation adjustments are correctly captured in a separate regulation, and therefore the obsolete provisions may create confusion for the public.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
EO 13771 Designation: Fully or Partially Exempt 
CFR Citation: 31 CFR 1010.820   
Legal Authority: 12 U.S.C. 1829(b)    12 U.S.C. 1951 to 1959    31 U.S.C. 5311 to 5314    31 U.S.C. 5316 to 5332   
Legal Deadline:  None
Timetable:
Action Date FR Cite
Final Action  06/00/2021 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: Federal, Local, State, Tribal 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
FinCEN Regulatory Support Section
Department of the Treasury
Financial Crimes Enforcement Network
P.O. Box 39,
Vienna, VA 22183
Phone:800 767-2825
Email: frc@fincen.gov