Search Results for keywords:"exemptions"

The U.S. Department of Energy (DOE) issued a final rule exempting certain records in its newly established system, DOE-42 Nondiscrimination in Federally Assisted Programs Files, from specific provisions of the Privacy Act of 1974. These exemptions are applied to protect investigatory materials used for law enforcement purposes, safeguarding against unauthorized access to sensitive data related to federal civil rights compliance investigations. The DOE addressed public comments on the rule and justified the need for exemptions to enhance the confidentiality and integrity of law enforcement processes while ensuring fairness and due process. The rule becomes effective on January 16, 2025.

The Office of the Comptroller of the Currency (OCC) is proposing a new rule that would allow exemptions from certain requirements tied to Suspicious Activity Reports (SARs), which banks and savings associations must file. This rule aims to give national banks and federal savings associations some flexibility if they come up with new, more efficient ways to comply with anti-money laundering laws, while still being reviewed for safety and soundness. The proposal includes guidelines on how banks can apply for these exemptions and factors that will be considered in granting them, like consistency with the Bank Secrecy Act and any supervisory concerns. The OCC is inviting public comments on this proposed rule until February 22, 2021.