2 Apr 2025
📜Federal Reserve Compliance Requirements Under Regulations H and K
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
Summary
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Recordkeeping Requirements of Regulation H and Regulation K Associated with the Procedures for Monitoring Bank Secrecy Act Compliance (FR K; OMB No. 7100-0310).
Agencies
- Federal Reserve System
Business Impact
$$ - Med
The regulatory text involves compliance requirements under Regulation H and K related to the Bank Secrecy Act. State member banks and other banking entities must adhere to recordkeeping standards, indicating ongoing regulatory obligations that business owners must account for in their operations.