Financial Crimes Enforcement Network: Anti-Money Laundering Program and Suspicious Activity Report Requirements for Non-Bank Residential Mortgage Lenders and Originators

Document ID: FINCEN-2009-0003-0001
Document Type: Proposed Rule
Agency: Financial Crimes Enforcement Network
Topics: No Topics associated with this document
Federal Register Number: E9-17117
CFR Citation: 31 CFR 103
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Abstract:	FinCEN is issuing this advance notice of proposed rulemaking (ANPRM) to solicit public comment on a wide range of questions pertaining to the possible application of anti-money laundering (AML) program and suspicious activity report (SAR) regulations to a specific sub-set of loan and finance companies: Non-bank residential mortgage lenders and originators. FinCEN seeks comment on: An incremental approach to the issuance of regulations for loan and finance companies that would initially affect only those persons engaged in non-bank residential mortgage lending or origination; how any such regulations should define persons engaged in nonbank residential mortgage lending or origination; the financial crime and money laundering risks posed by such persons; how AML programs for such persons should be structured; whether such persons should be covered by BSA requirements other than the AML program requirement, including SAR reporting; and whether any such persons should be exempted from AML program or SAR reporting requirements.
Document Subtype:	ANPRM
Received Date:	July 21 2009, at 11:58 AM Eastern Daylight Time
Start-End Page:	35830 - 35834
Comment Start Date:	July 21 2009, at 12:00 AM Eastern Standard Time
Comment Due Date:	August 20 2009, at 11:59 PM Eastern Standard Time