2019-26767. Agency Information Collection Activities: Proposed Collection; Comment Request; Monitoring Bank Secrecy Act Compliance  

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    National Credit Union Administration (NCUA).


    Notice and request for comment.


    The National Credit Union Administration (NCUA), as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on the following extension of a currently approved collection, as required by the Paperwork Reduction Act of 1995.


    Written comments should be received on or before January 13, 2020 to be assured of consideration.


    Send comments regarding the burden estimate, or any other aspect of this information collection, including suggestions for reducing the burden, to (1) Office of Information and Regulatory Affairs, Office of Management and Budget, Attention: Desk Officer for NCUA, New Executive Office Building, Room 10235, Washington, DC 20503, or email at OIRA_Submission@OMB.EOP.gov and (2) NCUA PRA Clearance Officer, 1775 Duke Street, Suite 5080, Alexandria, VA 22314, or email at PRAComments@ncua.gov.

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    Copies of the submission may be obtained by contacting Mackie Malaka at (703) 548-2704, emailing PRAComments@ncua.gov, or viewing the entire information collection request at www.reginfo.gov.

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    OMB Number: 3133-0108.

    Title: Monitoring Bank Secrecy, 12 CFR part 748.2.

    Form: NCUA 1092, 1093, and 1093C.

    Type of Review: Extension of a currently approved collection.

    Abstract: Section 748.2 of NCUA's regulations, directs credit unions to establish a Bank Secrecy Act (BSA) compliance program that maintains procedures designed to assure and monitor compliance with the requirement of 31 U.S.C., Chap. 53, Subchapter II (sec. 5301-5329), the Bank Secrecy Act (31 U.S.C. 5318(g)), and 31 CFR Chapter X (parts 1000-1099), Financial Crimes Enforcement Network, Department of the Treasury. Each federally insured credit union (FICU) must develop and provide for the continued administration of a BSA compliance program to assure and monitor compliance with the recordkeeping and recording requirements prescribed by the BSA. At a minimum, a compliance program shall provide for a system of internal controls, independent testing for compliance, designation of an individual responsible for coordinating and monitoring day-to-day compliance; and training. NCUA examiners review the program to determine whether the credit union's procedures comply with all BSA requirements.

    Affected Public: Private Sector: Not-for-profit institutions.

    Estimated Total Annual Burden Hours: 84,928.

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    By Gerard Poliquin, Secretary of the Board, the National Credit Union Administration, on December 9, 2019.

    Dated: December 9, 2019.

    Mackie I. Malaka,

    NCUA PRA Clearance Officer.

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    [FR Doc. 2019-26767 Filed 12-11-19; 8:45 am]

    BILLING CODE 7535-01-P

Document Information

National Credit Union Administration
Notice and request for comment.
Document Number:
Written comments should be received on or before January 13, 2020 to be assured of consideration.
67963-67963 (1 pages)
PDF File: