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Banks (Finance)

U.S. Treasury Solicits Public Comments on Crucial Bank Regulations

Strategic Insights

— 2 min read

The U.S. Department of Treasury's Office of the Comptroller of the Currency (OCC) is seeking public input on four significant regulatory collection activities affecting national banks and federal savings associations. The OCC aims to address critical areas such as Bank Secrecy Act/Money Laundering Risk Assessment, Community Reinvestment Act Qualifying Activities Confirmation Request Form, Market Risk, and Disclosure and Reporting of CRA-Related Agreements. These collections aim to enhance regulatory oversight and reduce paperwork burden while ensuring effective monitoring of banking institutions' anti-money laundering, community reinvestment, market risk, and transparency obligations.

Key Takeaways:

  • The OCC is soliciting public comments on four separate information collection activities: Bank Secrecy Act/Money Laundering Risk Assessment, Community Reinvestment Act Qualifying Activities Confirmation Request Form, Market Risk, and Disclosure and Reporting of CRA-Related Agreements.
  • The comment deadlines for these collections are August 25, 2025, (July 28, 2025 for the latter two) and August 29, 2025, respectively.
  • The Bank Secrecy Act/Money Laundering Risk Assessment updates include adding bank-fintech partnerships as a new category, eliminating payable through accounts, and consolidating fourteen existing categories into seven streamlined ones.
  • The Community Reinvestment Act Qualifying Activities Confirmation Request Form renewal aims to facilitate more effective and efficient confirmation of CRA-qualified activities, with an estimated 456 hours of annual burden from 24 respondents.
  • The Market Risk collection renewal affects national banks and federal savings associations with significant market risk exposure, with 17 respondents estimated to contribute 33,388 hours annually.
  • The Disclosure and Reporting of CRA-Related Agreements collection governs agreements between national banks, federal savings associations, and their affiliates related to CRA responsibilities, with 8 respondents estimated to generate 369 hours of annual burden.
  • These collections represent the OCC's ongoing efforts to reduce paperwork burden while maintaining effective regulatory oversight of banking institutions' anti-money laundering, community reinvestment, market risk, and transparency obligations.

Statistics:

  • 456 hours of annual burden are estimated for the Community Reinvestment Act Qualifying Activities Confirmation Request Form renewal from 24 respondents.
  • 33,388 hours annually are contributed by 17 respondents under the Market Risk collection renewal.
  • 369 hours of annual burden are generated by 8 respondents under the Disclosure and Reporting of CRA-Related Agreements collection.
  • 71 data collection points are reduced to 68 in the updated Bank Secrecy Act/Money Laundering Risk Assessment.

Sources:

  • Federal Register: https://www.federalregister.gov/documents/2025/06/24/2025-11545/agency-information-collection-activities-information-collection-revision-comment-request-bank
  • Federal Register: https://www.federalregister.gov/documents/2025/06/26/2025-11832/agency-information-collection-activities-information-collection-renewal-submission-for-omb-review
  • Federal Register: https://www.federalregister.gov/documents/2025/06/26/2025-11752/agency-information-collection-activities-information-collection-renewal-submission-for-omb-review
  • Federal Register: https://www.federalregister.gov/documents/2025/06/30/2025-11985/agency-information-collection-activities-information-collection-renewal-comment-request-disclosure

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