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Comment Period: Agencies Propose Exemption to SAR Filings Paperwork Reduction Act

The Federal Deposit Insurance Corporation (FDIC) seeks comment on a proposed rule that would modify the requirements for FDIC-supervised institutions to file Suspicious Activity Reports (SARs). The proposed rule would amend FDIC’s SAR regulation to allow FDIC to issue exemptions from SAR requirements. The proposed rule would make it possible for FDIC to grant relief to FDIC-supervised institutions that develop innovative solutions to meet Bank Secrecy Act requirements more efficiently and effectively. Comments on the Paperwork Reduction Act burden estimates are due 03/23/2021. Read more here.

  • March 23, 2021
  • Time: All Day