[Federal Register Volume 85, Number 56 (Monday, March 23, 2020)]
[Notices]
[Page 16387]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-06069]


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NATIONAL CREDIT UNION ADMINISTRATION


Submission for OMB Review; Comment Request

AGENCY: National Credit Union Administration (NCUA).

ACTION: Notice.

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SUMMARY: The National Credit Union Administration (NCUA), as part of a 
continuing effort to reduce paperwork and respondent burden, invites 
the general public and other Federal agencies to comment on the 
following extension of a currently approved collection, as required by 
the Paperwork Reduction Act of 1995.

DATES: Written comments should be received on or before April 22, 2020 
to be assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by contacting Mackie Malaka at (703) 548-2704, emailing 
[email protected], or viewing the entire information collection 
request at www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 
    OMB Number: 3133-0094.
    Title: Suspicious Activity Report, 12 CFR part 748.1.
    Form: None.
    Type of Review: Extension of a currently approved collection.
    Abstract: The Financial Crimes Enforcement Network (FinCEN), 
Department of the Treasury, was granted broad authority to require 
suspicious transaction reporting under the Bank Secrecy Act (BSA) (31 
U.S.C. 5318(g)). FinCEN joined with the bank regulators in adopting and 
requiring reports of suspicious transactions on a consolidated 
suspicious activity report (SARs) form. This simplified the process 
through which banks inform their regulators and law enforcement about 
suspected criminal activity. In 2011, FinCEN transitioned from industry 
specific paper forms to one electronically filed dynamic and 
interactive BSA-SAR for use by all filing institutions. Information 
about suspicious transactions conducted or attempted by, at, through, 
or otherwise involving credit unions are collected through FinCEN's BSA 
E-filing system by credit unions. A SAR is to be filed no later than 30 
calendar days from the date of the initial detection of facts that may 
constitute a basis for filing a SAR. If no suspect can be identified, 
the period for filing a SAR is extended to 60 days. FinCEN and law 
enforcement agencies use the information on BSA-SARs and the supporting 
documentation retained by the banks for criminal investigation and 
prosecution purposes.
    Affected Public: Private Sector: Not-for-profit institutions.
    Estimated Total Annual Burden Hours: 191,019.

    By Gerard Poliquin, Secretary of the Board, the National Credit 
Union Administration, on March 18, 2020.

    Dated: March 18, 2020.
Mackie I. Malaka,
NCUA PRA Clearance Officer.
[FR Doc. 2020-06069 Filed 3-20-20; 8:45 am]
 BILLING CODE 7535-01-P