July 3, 2006 News Archive

Board and FinCEN Seek Comments on Funds Transfers and Transmittals of Funds ANPR
In a press release, the Federal Reserve Board, jointly with the Department of the Treasury's Financial Crimes Enforcement Network (FinCEN), issued an advance notice of proposed rulemaking (ANPR) that seeks information on the potential benefit and burden of lowering or eliminating the $3,000 threshold on the recordkeeping rule for funds transfers and transmittals of funds by financial institutions.

Comments on the ANPR must be submitted on or by Aug. 21, 2006.