🔒OCC Seeks Comments on Minimum Security and Reporting Requirements
Agency Information Collection Activities: Information Collection Renewal; Comment Request; Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program
Summary
The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995 (PRA). In accordance with the requirements of the PRA, the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. The OCC is soliciting comment concerning the renewal of its information collection titled, "Minimum Security Devices and Procedures, Reports of Suspicious Activities, and Bank Secrecy Act Compliance Program."
Agencies
- Treasury Department
- Comptroller of the Currency
Business Impact
$$$ - High
The document outlines compliance requirements related to security devices, suspicious activity reporting, and Bank Secrecy Act adherence. Businesses, specifically banks and financial institutions, must ensure they have proper security measures and reporting protocols in place, highlighting the necessity of operational compliance and potential financial burden associated with these requirements.