16118 Federal Register / Vol. 77, No. 53 / Monday, March 19, 2012 / Notices 

1The BSA is codified at 12 U.S.C. 1829b, 12 

U.S.C. 1951–1959, 31 U.S.C. 5311–5314, and 5316– 

5332 and notes thereto, with implementing 

regulations at 31 CFR Chapter X. See 31 CFR 

1010.100(e). 

2Treasury Order 180–01 (Sept. 26, 2002). 

3 31 U.S.C. 5311. 

4 31 U.S.C. 5318(a) and (h). 

Type of Review: Regular Review. 

Affected Public: Certified CDFIs and 

entities seeking CDFI Certification. 

Estimated Number of Respondents: 

400. 

Estimated Annual Time per 

Respondent: 100 hours. 

Estimated Total Annual Burden 

Hours: 40,000. 

Requests for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for Office of Management and 

Budget approval. All comments will 

become a matter of public record and 

may be published on the CDFI Fund 

Web site at http://www.cdfifund.gov. 

Comments are invited on: (a) Whether 

the collection of information is 

necessary for the proper performance of 

the functions of the CDFI Fund, 

including whether the information shall 

have practical utility; (b) the accuracy of 

the CDFI Fund’s estimate of the burden 

of the collection of information; (c) ways 

to enhance the quality, utility, and 

clarity of the information to be 

collected; (d) ways to minimize the 

burden of the collection of information 

on respondents, including through the 

use of technology; and (e) estimates of 

capital or start-up costs and costs of 

operation, maintenance, and purchase 

of services to provide information. 

The CDFI Fund specifically requests 

comments concerning the following 

questions: 

(1) Is targeting CDFI Program award 

funds into highly distressed 

communities an appropriate use of CDFI 

Program funds? 

(2) Are there ways that the fillable 

PDF application form can be improved 

that would ease applicant paperwork 

burden? 

(3) Should detailed Matching Funds 

documentation be collected later in the 

application review process and, if so, 

what would be a reasonable amount of 

time to expect an applicant to provide 

such documentation? 

(4) Does the application ask the 

appropriate questions to determine 

applicant’s financial health and 

viability? 

Authority: 12 U.S.C. 1834a, 4703, 4703 

note, 4713, 4717; 31 U.S.C 321; 12 CFR part 

1806. 

Dawn D. Wolfgang, 

Treasury PRA Clearance Officer. 

[FR Doc. 2012–6490 Filed 3–16–12; 8:45 am] 

BILLING CODE 4810–70–P 

DEPARTMENT OF THE TREASURY 

Financial Crimes Enforcement Network 

Proposed Renewal Without Change; 

Comment Request; Customer 

Identification Programs for Various 

Financial Institutions 

AGENCY: Financial Crimes Enforcement 

Network (FinCEN). 

ACTION: Notice and request for 

comments. 

SUMMARY: As part of its continuing effort 

to reduce paperwork and respondent 

burden, FinCEN invites comment on a 

proposed renewal, without change, to 

information collections found in 

regulations requiring futures 

commission merchants, introducing 

brokers, banks, savings associations, 

credit unions, certain non-federally 

regulated banks, mutual funds, and 

broker-dealers, to develop and 

implement customer identification 

programs reasonably designed to 

prevent those financial institutions from 

being used to facilitate money 

laundering and the financing of terrorist 

activities. This request for comment is 

being made pursuant to the Paperwork 

Reduction Act of 1995, Public Law 104– 

13, 44 U.S.C. 3506(c)(2)(A). 

DATES: Written comments are welcome 

and must be received on or before May 

18, 2012. 

ADDRESSES: Written comments should 

be submitted to: Regulatory Policy and 

Programs Division, Financial Crimes 

Enforcement Network, Department of 

the Treasury, P.O. Box 39, Vienna, VA 

22183, Attention: Customer 

Identification Program Comments. 

Comments also may be submitted by 

electronic mail to the following Internet 

address: regcomments@fincen.gov, again 

with a caption, in the body of the text, 

‘‘Attention: Customer Identification 

Program Comments.’’ 

Inspection of comments: Comments 

may be inspected, between 10 a.m. and 

4 p.m., in the FinCEN reading room in 

Vienna, VA. Persons wishing to inspect 

the comments submitted must request 

an appointment with the Disclosure 

Officer by telephoning (703) 905–5034 

(not a toll free call). 

FOR FURTHER INFORMATION CONTACT: The 

Regulatory Policy and Programs 

Division at 800–949–2732 option 6. 

SUPPLEMENTARY INFORMATION: 

Abstract: FinCEN exercises regulatory 

functions primarily under the Currency 

and Financial Transactions Reporting 

Act of 1970, as amended by the USA 

PATRIOT Act of 2001 and other 

legislation. This legislative framework is 

commonly referred to as the ‘‘Bank 

Secrecy Act’’ (‘‘BSA’’).1 The Secretary of 

the Treasury has delegated to the 

Director of FinCEN the authority to 

implement, administer, and enforce 

compliance with the BSA and 

associated regulations.2 Pursuant to this 

authority, FinCEN may issue regulations 

requiring financial institutions to keep 

records and file reports that ‘‘have a 

high degree of usefulness in criminal, 

tax, or regulatory investigations or 

proceedings, or in the conduct of 

intelligence or counterintelligence 

activities, including analysis, to protect 

against international terrorism.’’ 3

Additionally, FinCEN is authorized to 

impose regulations to maintain 

procedures to ensure compliance with 

the BSA and FinCEN’s implementing 

regulations, or to guard against money 

laundering, which includes imposing 

anti-money laundering (‘‘AML’’) 

program requirements on financial 

institutions.4

Section 5318(l) of the Bank Secrecy 

Act authorizes FinCEN to issue 

regulations prescribing customer 

identification programs for financial 

institutions. The regulations must 

require that, at a minimum, financial 

institutions implement reasonable 

procedures for (1) verifying the identity 

of any person seeking to open an 

account, to the extent reasonable and 

practicable; (2) maintaining records of 

the information used to verify the 

person’s identity, including name, 

address, and other identifying 

information; and (3) determining 

whether the person appears on any lists 

of known or suspected terrorists or 

terrorist organizations provided to the 

financial institution by any government 

agency. The regulations are to take into 

consideration the various types of 

accounts maintained by various types of 

financial institutions, the various 

methods of opening accounts, and the 

various types of identifying information 

available. Regulations implementing 

section 5318(l) are found at 31 CFR 

1020.220, 1023.220, 1026.220, and 

1024.220. 

1. Title: Customer identification 

programs for banks, savings 

associations, credit unions, and certain 

non-federally regulated banks. (31 CFR 

1020.220). 

Office of Management and Budget 

Control Number (OMB): 1506–0026. 


emcdonald on DSK29S0YB1PROD with NOTICES
Federal Register / Vol. 77, No. 53 / Monday, March 19, 2012 / Notices 16119 

Abstract: Banks, savings associations, 

credit unions, and certain non-federally 

regulated banks are required to develop 

and maintain customer identification 

programs and provide their customers 

with notice of the programs. (See FR 68, 

25090, May 9, 2003). 

Current Action: There is no change to 

existing regulations. 

Type of Review: Extension of a 

currently approved information 

collection. 

Affected Public: Business and other 

for profit institutions and non-profit 

institutions. 

Burden: Estimated Number of 

Respondents 22,060. 

Estimated Average Annual 

Recordkeeping Burden per Respondent: 

10 hours. 

Estimated Average Annual Disclosure 

Burden per Respondent: 1 hour. 

Estimated Total Annual Respondent 

Burden: 242,660 hours. 

2. Title: Customer identification 

program for broker-dealers (31 CFR 

1023.220). 

OMB Control Number: 1506–0034. 

Abstract: Broker-dealers are required 

to establish and maintain customer 

identification programs and provide 

their customers with notice of the 

programs. (See FR 68, 25113, May 9, 

2003). 

Current Action: There is no change to 

existing regulations. 

Type of Review: Extension of a 

currently approved information 

collection. 

Affected Public: Business and other 

for profit institutions. 

Burden: Estimated Number of 

Respondents 5,448. 

Estimated Average Annual Burden 

per Respondent: The estimated average 

burden associated with the notice 

requirement is two minutes per 

respondent. 

Estimated Number of Hours: 630,896. 

3. Title: Customer identification 

programs for futures commission 

merchants and introducing brokers 

(31 CFR 1026.220). 

OMB Control Number: 1506–0022. 

Abstract: Futures commission 

merchants and introducing brokers are 

required to develop and maintain 

customer identification programs and 

provide their customers with notice of 

the programs. (See FR 68, 25149, May 9, 

2003). 

Current Action: There is no change to 

existing regulations. 

Type of Review: Extension of a 

currently approved information 

collection. 

Affected Public: Business and other 

for profit institutions. 

Burden: Estimated Number of 

Respondents: 1856. 

Estimated Average Annual Burden 

per Respondent: The estimated average 

burden associated with the notice 

requirement is two minutes per 

respondent. 

Estimated Number of Hours: 20,471. 

4. Title: Customer identification 

programs for mutual funds (31 CFR 

1024.220). 

OMB Control Number: 1505–0033. 

Abstract: Mutual funds are required to 

establish and maintain customer 

identification programs and provide 

their customers with notice of the 

programs. (See FR 68, 25131, May 9, 

2003). 

Current Action: There is no change to 

existing regulations. 

Type of Review: Extension of a 

currently approved information 

collection. 

Affected Public: Business and other 

for profit institutions. 

Burden: Estimated Number of 

Respondents: 2,296. 

Estimated Average Annual Burden 

per Respondent: The estimated average 

burden associated with the notice 

requirement is 2 minutes per 

respondent. 

Estimated Number of Hours: 266,700. 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless it displays a valid control 

number assigned by the Office of 

Management and Budget. Records 

required to be retained under the BSA 

must be retained for five years. 

Generally, information collected 

pursuant to the BSA is confidential but 

may be shared as provided by law with 

regulatory and law enforcement 

authorities. 

Request for Comments 

Comments submitted in response to 

this notice will be summarized and/or 

included in the request for OMB 

approval. All comments will become a 

matter of public record. Comments are 

invited on: (a) Whether the collection of 

information is necessary for the proper 

performance of the functions of the 

agency, including whether the 

information shall have practical utility; 

(b) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (c) ways to enhance the 

quality, utility, and clarity of the 

information to be collected: (d) ways to 

minimize the burden of the collection of 

information on respondents, including 

through the use of automated collection 

techniques or other forms of information 

technology; and (e) estimates of capital 

or start-up costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Dated: February 13, 2012. 

James H. Freis, Jr., 

Director, Financial Crimes Enforcement 

Network. 

[FR Doc. 2012–6479 Filed 3–16–12; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF THE TREASURY 

Financial Crimes Enforcement Network 

Agency Information Collection 

Activities; Proposed Collection; 

Comment Request; Report of 

International Transportation of 

Currency or Monetary Instruments 

AGENCY: Financial Crimes Enforcement 

Network (FinCEN), Treasury. 

ACTION: Notice and request for 

comments regarding the renewal 

without change of the Report of 

International Transportation of 

Currency or Monetary Instruments 

(CMIR). 

SUMMARY: As part of our continuing 

effort to reduce paperwork and 

respondent burden, FinCEN invites the 

general public and other Federal 

agencies to comment on an information 

collection requirement concerning the 

CMIR. This request for comment is 

being made pursuant to the Paperwork 

Reduction Act of 1995 (PRA), Public 

Law 10 U.S.C. 3506(c)(2)(A)). 

DATES: Written comments should be 

received on or before May 18, 2012 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to: Regulatory Policy and Programs 

Division, Financial Crimes Enforcement 

Network, Department of the Treasury, 

P.O. Box 39, Vienna, VA 22183–0039, 

Attention: PRA Comments—Report of 

International Transportation of 

Currency or Monetary Instruments. 

Comments also may be submitted by 

electronic mail to the following Internet 

address: ‘‘regcomments@fincen.gov’’ 

with the caption in the body of the text, 

‘‘Attention: PRA Comments—Report of 

International Transportation of 

Currency or Monetary Instruments.’’ 

Inspection of comments: Comments 

may be inspected, between 10 a.m. and 

4 p.m., in the FinCEN reading room in 

Vienna, VA. Persons wishing to inspect 

the comments submitted must request 

an appointment with the Disclosure 

Officer by telephoning (703) 905–5034 

(Not a toll free call). 

FOR FURTHER INFORMATION CONTACT: The 

FinCEN Regulatory Helpline at 800– 

949–2732, select option 6. A copy of the 

form may also be obtained from the 

FinCEN Web site at http:// 


emcdonald on DSK29S0YB1PROD with NOTICES