🏦Treasury Reveals Compliance Updates for Financial Institutions
The Department of the Treasury published a document in the Federal Register of July 30, 2025, concerning request for comments on information collection requests being submitted to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995. The document contained errors in the burden estimates for three of the Financial Crimes Enforcement Network information collection requests.
Learn More🎲Additional Records Retention Requirements for Casinos by FinCEN
As part of its continuing effort to reduce paperwork and respondent burden, FinCEN invites comments on the proposed renewal, without change, of certain existing information collection requirements found in Bank Secrecy Act (BSA) regulations applicable to casinos and card clubs. Under these regulations, among other requirements, casinos and card clubs (collectively, casinos) must secure and maintain--with respect to each deposit, account, or line of credit--a record of the name, permanent address, and social security number of the person involved at the time the funds are deposited, the account is opened, or credit is extended. This request for comments is made pursuant to the Paperwork Reduction Act of 1995.
Learn More