Regulatory Alerts2011-11-03
Added
FinCEN Proposes Anti-Money Laundering Program and Suspicious Activity Reporting Requirements for Housing Government Sponsored Enterprises
FinCEN proposes to define certain housing government sponsored enterprises, specifically the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Federal Home Loan Banks, as financial institutions under the Bank Secrecy Act. This designation would require these entities to establish anti-money laundering programs and file Suspicious Activity Reports. Written comments on this notice of proposed rulemaking must be submitted on or before January 9, 2012.