Bank Secrecy Act Access to Banking Services by Money Services Businesses
May 2, 2006
The Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) is seeking public comment on the attached Advance Notice of Proposed Rulemaking (ANPR) regarding the impact of Bank Secrecy Act (BSA) regulations on the ability of money services businesses (MSBs) to open and maintain accounts and obtain other banking services at banks and other depository institutions.
FinCEN has issued
the attached ANPR seeking comments from the public, MSBs, and the banking
regarding the BSA's impact
on MSBs ' ability
to obtain appropriate access to banking services.
MSBs have experienced obstacles in opening and maintaining deposit
accounts with banks.
FinCEN is soliciting updated facts about this issue as well
as feedback on whether additional guidance or regulatory
action under the BSA might address these concerns.
Comments must be submitted to FinCEN on or before May
9, 2006, and should be identified by RIN 1506-AA85.
Comments may be submitted via electronic mail at firstname.lastname@example.org (include the RIN in the subject line of the message) or
via regular paper mail to FinCEN, P.O. Box 39, Vienna, Virginia
Please distribute this information to the appropriate
personnel in your institution.
FDIC-Supervised Banks (Commercial and Savings)