Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Programs for Insurance Companies, Loan or Finance Companies, and Banks Lacking a Federal Functional Regulator
ICR 202604-1506-004 · OMB 1506-0035 · Received in OIRA
Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Programs for Insurance Companies, Loan or Finance Companies, and Banks Lacking a Federal Functional Regulator
Revision of a currently approved collection
No
Regular
05/07/2026
Requested
Previously Approved
36 Months From Approved
09/30/2027
14,424
18,278
49,503
21,924
0
0
FinCEN is submitting this information collection request to support its request that OMB approve a proposed revision to a collection of information associated with NPRM in support of the Bank Secrecy Act (BSA). The proposed rule implements section 6101(b) of the Anti-Money Laundering Act of 2020 (AML Act). On April 10, 2026, FinCEN published in the Federal Register a notice and request for comments on a proposed rule to fundamentally reform the requirements for financial institutionsâ AML/CFT programs. The NPRM aims to ensure that financial institutions establish and maintain AML/CFT programs that better achieve the purposes of the BSA and lead to more effective outcomes for financial institutions as well as law enforcement and national security agencies. Through this rulemaking, consistent with its statutory authority as the administrator of the BSA, FinCEN is also proposing measures to modernize and reform federal supervision of AML/CFT programs by enhancing FinCENâs role in AML/CFT supervision and enforcement in coordination with Federal banking regulators. In addition, FinCEN is proposing regulatory amendments to promote clarity and consistency across FinCENâs program requirements for different types of financial institutions. This information collection request covers the AML/CFT program requirements for insurance companies, loan or finance companies, and banks lacking a Federal functional regulator.
The change in burden presented in Table 2 of the supporting statements is a result of (1) the newly articulated pro forma average annual 50-hour burden that banks lacking an FFR already incur associated with ongoing customer due diligence (18,250 hours) and (2) the newly articulated pro forma average annual one-hour burden associated with program approval for financial institution types that do not already have PRA burden associated with that activity. In this case, the new one-hour burden applies to insurance companies and loan and finance companies (14,059 hours).
In part, the change in aggregate burden is also attributable to certain changes in baseline populations of affected financial institutions, including (1) a decrease of 235 in the expected population of banks lacking an FFR (from 600 to 365), (2) a decrease of 3,961 in the expected population of insurance companies (from 4,678 to 717), and (3) an increase of 342 in the expected population of loan and finance companies (from 13,000 to 13,342).
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
1506-0035_AML Program NPRM Supporting Statement_4_22_2026 FINAL.docx
AML/CFT Programs for Banks Lacking a Federal Functional Regulator