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OCC Bulletin 2022-13
April 14, 2022
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Chief Executive Officers of National Banks, Federal Savings Associations, and Federal Branches; Department and Division Heads; All Examining Personnel; and Other Interested Parties
On March 16, 2022, the Office of the Comptroller of the Currency (OCC) issued a final rule amending the OCC's suspicious activity report (SAR) regulations. This rule allows the OCC to issue exemptions from the requirements of those regulations based on a request from a bank1 subject to those regulations that meets the criteria specified in the final rule. The final rule adopts, with changes in response to comments, the proposed rule published in the Federal Register on January 22, 2021.
The final rule takes effect on May 1, 2022.
The final rule applies to community banks.
The final rule
When issuing any exemptions, the OCC expects to coordinate with FinCEN and the other federal banking agencies. For exemption requests from the OCC's SAR regulations that would also require an exemption from FinCEN's SAR regulation, a bank would need to seek an exemption from both the OCC and FinCEN.
Please contact Jina Cheon, Counsel; Henry Barkhausen, Counsel; or Scott Burnett, Counsel; Chief Counsel's Office, at (202) 649-5490.
Benjamin W. McDonough
Senior Deputy Comptroller and Chief Counsel
1 "Banks" refers to national banks, federal savings associations, covered savings associations, and federal branches and agencies of foreign banking organizations.