Treasury Department, Financial Crimes Enforcement Network
FinCEN is issuing a notice of proposed rulemaking (NPRM), pursuant to section 311 of the USA PATRIOT Act, that proposes prohibiting the opening or maintaining of a correspondent account in the United States for, or on behalf of, Al-Huda Bank, a foreign financial institution based in Iraq found to be of primary money laundering concern.
Document Headings Document headings vary by document type but may contain the following: the agency or agencies that issued and signed a document the number of the CFR title and the number of each part the document amends, proposes to amend, or is directly related to the agency docket number / agency internal file number the RIN which identifies each regulatory action listed in the Unified Agenda of Federal Regulatory and Deregulatory Actions See the Document Drafting Handbook for more details. Department of the Treasury Financial Crimes Enforcement Network 31 CFR Part 1010 RIN 1506-AB65 AGENCY: Financial Crimes Enforcement Network (FinCEN), Treasury. ACTION: Notice of proposed rulemaking. SUMMARY: FinCEN is issuing a notice of proposed rulemaking (NPRM), pursuant to section 311 of the USA PATRIOT Act, that proposes prohibiting the opening or maintaining of a correspondent account in the United States for, or on behalf of, Al-Huda Bank, a foreign financial institution based in Iraq found to be of primary money laundering concern. DATES: Written comments on the notice of proposed rulemaking must be submitted on or before March 1, 2024. ADDRESSES: Comments must be submitted by one of the following methods: Federal E-rulemaking Portal: https://www.regulations.gov . Follow the instructions for submitting comments. Refer to Docket Number FINCEN-2024-0001 in the submission. Mail: Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN-2024-0001 in the submission. Please submit comments by one method only and note that comments submitted in response to this NPRM will become a matter of public record. FOR FURTHER INFORMATION CONTACT: The FinCEN Regulatory Support Section at 1-800-767-2825 or electronically at frc@fincen.gov . SUPPLEMENTARY INFORMATION: I. Statutory Provisions Section 311 of the USA PATRIOT Act (section 311), codified at 31 U.S.C. 5318A , grants the Secretary of the Treasury (Secretary) authority, upon finding that …
Citation: 89 FR 6074
