[Federal Register Volume 80, Number 35 (Monday, February 23, 2015)]
[Notices]
[Pages 9504-9505]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-03580]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Proposed Information Collection Renewal; Comment Request; Anti-
Money Laundering Programs for Insurance Companies and Non-Bank 
Residential Mortgage Lenders and Originators

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: FinCEN invites comment on the renewal of information 
collections in existing regulations requiring insurance companies and 
non-bank mortgage lenders and originators to develop and implement 
written anti-money laundering programs reasonably designed to prevent 
those financial institutions from being used to facilitate money 
laundering and the financing of terrorist activities. This request for 
comments is being made pursuant to the Paperwork Reduction Act 
(``PRA'') 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 
April 24, 2015.

ADDRESSES: Written comments should be submitted to: Policy Division, 
Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183, 
Attention: Anti-Money Laundering Program Comments--Insurance Companies 
and Non-Bank Residential Mortgage Lenders and Originators. Comments 
also may be submitted by electronic mail to the following Internet 
address: <a href="/cdn-cgi/l/email-protection#ff8d9a989c9092929a918b8cbf9996919c9a91d1989089"><span class="__cf_email__" data-cfemail="0775626064686a6a6269737447616e6964626929606871">[email protected]</span></a>, again with a caption, in the body of 
the text, ``Attention: Anti-Money Laundering Program Comments--
Insurance Companies and Non-Bank Residential Mortgage Lenders and 
Originators.''
    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 Resource Center at 800-767-
2825 or email <a href="/cdn-cgi/l/email-protection#1670647556707f7875737838717960"><span class="__cf_email__" data-cfemail="f0968293b096999e93959ede979f86">[email protected]</span></a>.

SUPPLEMENTARY INFORMATION:  The Bank Secrecy Act (``BSA''), Titles I 
and II of Public Law 91-508, as amended, codified at 12 U.S.C. 1829(b), 
12 U.S.C. 1951-1959, and 31 U.S.C. 5311-5332, authorizes the Secretary 
of the Treasury, among other things, to require financial institutions 
to keep records and file reports that are determined to have a high 
degree of usefulness in criminal, tax, and regulatory matters, or in 
the conduct of intelligence or counter-intelligence activities to 
protect against international terrorism, and to implement counter-money 
laundering programs and compliance procedures.\1\
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    \1\ Language expanding the scope of the BSA to intelligence or 
counter-intelligence activities to protect against international 
terrorism was added by Section 358 of the Uniting and Strengthening 
America by Providing Appropriate Tools Required to Intercept and 
Obstruct Terrorism Act of 2001, Public Law 107-56.
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    Regulations implementing Title II of the BSA appear at 31 CFR 
Chapter X. The authority of the Secretary of the Treasury to administer 
the BSA has been delegated to the Director of FinCEN.
    The information collected and retained under the regulations 
addressed in this notice assists federal, state, and local law 
enforcement as well as regulatory authorities in the identification, 
investigation, and prosecution of money laundering and other matters. 
In accordance with the requirements of the PRA, 44 U.S.C. 
3506(c)(2)(A), and its implementing regulations, the following 
information is presented concerning the recordkeeping requirements 
listed below.
    Title: Anti-money laundering programs for insurance companies, 31 
CFR 1025.210 and non-bank residential mortgage lenders and originators, 
31 CFR 1029.210.
    Office of Management and Budget (``OMB'') Control Number: 1506-
0035.
    Abstract: Insurance companies and non-bank residential mortgage 
lenders and originators are required to establish and maintain written 
anti-money laundering programs. A copy of the written program must be 
maintained for five years.
    Current Action: Renewal of current regulations.
    Type of Review: Renewal of a currently approved information 
collection.
    Affected Public: Businesses and other for-profit institutions.
    Estimated Number of Respondents: 1,200 Insurance Companies and 
31,000

[[Page 9505]]

Non-Bank Residential Mortgage Lender and Originators.
    Estimated Number of Responses: 1,200 Insurance Companies and 31,000 
Non-Bank Residential Mortgage Lender and Originators.
    Estimated Number of Hours: 1,200 Insurance Companies and 31,000 
Non-Bank Residential Mortgage Lender and Originators.
    Total Estimated Burden Hours: 43,000.
    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 
OMB control number. 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, 2015.
Jennifer Shasky Calvery,
Director, Financial Crimes Enforcement Network.
[FR Doc. 2015-03580 Filed 2-20-15; 8:45 am]
BILLING CODE 4810-02-P


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