[Federal Register Volume 60, Number 192 (Wednesday, October 4, 1995)]
[Notices]
[Pages 52001-52002]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-24646]



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FEDERAL DEPOSIT INSURANCE CORPORATION


Privacy Act of 1974; Amendment to an Existing System of Records

AGENCY: Federal Deposit Insurance Corporation (FDIC).

ACTION: Notice of amendment to an existing system of records--
``Financial Institutions Investigative and Enforcement Records 
System''.

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SUMMARY: As part of an ongoing examination of the FDIC's systems of 
records, the Financial Institutions Investigative and Enforcement 
Records System has been reviewed for compliance with the Privacy Act of 
1974, 5 U.S.C. 552a. Numerous amendments have been made to the existing 
system notice that will update the following elements in this system of 
records: System location, safeguards, retention and disposal, system 
manager(s) and address, and notification procedure. Some of the changes 
reflect the FDIC's intention to maintain a portion of the records in 
this system of records in a computerized database to be managed by the 
Financial Crimes Enforcement Network (FinCEN), Department of the 
Treasury, pursuant to an inter-agency support agreement. Other changes 
reflect organizational changes within the FDIC. Finally, a portion of 
the notification procedure has been amended in light of Summers v. 
United States Department of Justice, 999 F. 2d 570 (D.C. Cir. 1993).

DATES: Comments on the amendment of this system must be submitted by 
November 13, 1995. The system will become effective November 28, 1995, 
unless a superseding notice to the contrary is published before that 
date.

ADDRESSES: Comments should be addressed to Jerry L. Langley, Executive 
Secretary, Federal Deposit Insurance Corporation, 550-17th Street, NW, 
Washington, DC 20429, or hand-delivered to Room F-400 at 1776 F Street, 
NW, Washington, DC, Monday through Friday, between the hours of 8:30 
a.m. and 5 p.m. [FAX number: (202) 898-3838; Internet E-mail: 
[email protected]]

FOR FURTHER INFORMATION CONTACT: Frederick N. Ottie, Attorney, FDIC, 
550-17th Street, NW, Washington, DC 20429,(202) 898-6679.
SUPPLEMENTARY INFORMATION: The FDIC's system of records entitled 
Financial Institutions Investigative and Enforcement Records System is 
being amended. The modifications include updating descriptions in the 
system location as well as the system manager and address elements to 
reflect both organizational changes within the FDIC and the FDIC's 
intention that criminal referral reports and status updates, currently 
maintained in this system of records, henceforth be managed by FinCEN 
pursuant to an inter-agency support agreement.
    In this regard, the FDIC has entered into an agreement with FinCEN, 
the Board of Governors of the Federal Reserve System, the Office of 
Thrift Supervision, the Office of the Comptroller of the Currency, and 
the National Credit Union Administration (the participating agencies). 
Under the agreement, FinCEN will manage a computerized database 
containing criminal referral reports and status updates, information 
currently collected and/or maintained separately by the participating 
agencies. The participating agencies are currently revising or issuing 
published rules to simplify the reporting requirements for financial 
institutions by prescribing a single form to be filed with FinCEN.
    For purposes of the Privacy Act, only those records generated under 
the jurisdiction of the FDIC are considered to be FDIC records 
contained in this database. Authority to access and use these FDIC 
records by other agencies, as well as by the participating agencies, is 
neither created nor increased by this agreement. Access to and use of 
these FDIC records by all other agencies will continue to be governed 
by the existing published routine uses for the FDIC's Financial 
Institutions Investigative and Enforcement Records System. The 
computerized augmentation of this existing system of records 
facilitates access by the participating agencies pursuant to existing 
routine uses and in accordance with the terms of the inter-agency 
support agreement. It also enables the FDIC to expand internal access 
to regional offices of the FDIC's Division of Supervision and Legal 
Division. All of these changes are noted in the system location element 
of the amended system notice. 

[[Page 52002]]

    Additionally, the safeguards element is amended to add that on-line 
access to the computerized database managed by FinCEN is limited to 
authorized individuals who have been specified by each participating 
agency and who have been issued a nontransferable identifier or 
password.
    The retention and disposal element is amended to indicate: (1) That 
hard-copy records maintained by the FDIC are retained until no longer 
needed; (2) that the computerized database managed by FinCEN will be 
retained until no longer needed; and (3) that the criminal referral 
reports and status updates received by FinCEN for data entry will be 
retained by FinCEN for 30 days after receipt and thereafter destroyed 
by FinCEN.
    Finally, in accordance with the court decision in Summers v. United 
States Department of Justice, 999 F. 2d 570 (D.C. Cir. 1993), the 
notification procedure element is amended to delete the requirement 
that requesters must establish proof of identity solely by the 
production of a notarized statement. The FDIC's existing Privacy Act 
regulation, 12 CFR 310.4, will be used in determining individual 
identity.
    Accordingly, the Board of Directors of the FDIC amends the 
Financial Institutions Investigative and Enforcement Records System to 
read as follows:
FDIC 30-64-0002
    Financial Institutions Investigative and Enforcement Records 
System.

(Complete text appears at 53 FR 7358, March 8, 1988).
    Division of Supervision, FDIC, 550 17th Street, NW., Washington, DC 
20429. Computerized records of criminal referral reports and status 
updates are managed by the Financial Crimes Enforcement Network 
(FinCEN), Department of the Treasury, 2070 Chain Bridge Road, Vienna, 
Virginia 22182, and stored in Detroit, Michigan. The Special Activities 
Section, Division of Supervision, FDIC, the regional offices thereof, 
and the Legal Division, FDIC, have on-line access to the computerized 
database managed by FinCEN through individual work stations that are 
linked to the database central computer.
* * * * *
* * * * *
    Index cards and file folders are maintained in lockable metal file 
cabinets. Computer discs maintained at the FDIC are accessed only by 
authorized personnel. On-line access to the database managed by FinCEN 
is limited to authorized individuals who have been specified by each 
participating agency and who have been issued a nontransferable 
identifier or password.
    Hard-copy records maintained at the FDIC are retained until no 
longer needed. Records maintained at the FDIC on computer discs are 
retained until no longer needed. The computerized database managed by 
FinCEN are retained until no longer needed. The criminal referral 
reports and status updates received by FinCEN for data entry are 
retained by FinCEN for 30 days after receipt and thereafter destroyed 
by FinCEN.
* * * * *
    Director, Division of Supervision, FDIC, 550 17th Street, NW., 
Washington, DC 20429.
    Requests must be in writing and addressed to the Office of the 
Executive Secretary, FDIC, 550 17th Street, NW., Washington, DC 20429.
* * * * *
    By direction of the Board of Directors.

    Dated at Washington, DC, this 26th day of September, 1995.

Federal Deposit Insurance Corporation.
Jerry L. Langley,
Executive Secretary.
[FR Doc. 95-24646 Filed 10-3-95; 8:45 am]
BILLING CODE 6714-01-P