Opportunity
Federal Register #1557-0250
OCC Seeks Comment on Renewal of Retail Foreign Exchange Transactions Information Collection
Buyer
Office of the Comptroller of the Currency
Posted
April 20, 2026
Respond By
May 20, 2026
Identifier
1557-0250
The Office of the Comptroller of the Currency (OCC), a bureau within the Department of the Treasury, is seeking public comment on the renewal of its information collection for Retail Foreign Exchange Transactions. - Government Buyer: - Office of the Comptroller of the Currency (OCC), Department of the Treasury - OEMs and Vendors: - No OEMs or vendors are mentioned, as this is a regulatory information collection notice, not a procurement of products or services - Products/Services Requested: - No products or services are being procured - The notice concerns reporting, disclosure, and recordkeeping requirements for national banks and Federal savings associations involved in retail foreign exchange transactions - Requirements include prior notice to OCC, written supervisory no-objection letters, customer due diligence, new product approvals, and documentation of noncash margins - Institutions must provide customers with transaction statements, written disclosures, monthly statements, and confirmation statements - Systematic records and internal controls must be maintained - Unique or Notable Requirements: - Focus on regulatory compliance and information collection - Estimated 22 respondents with a total annual burden of 32,880 hours - No procurement of goods or services is involved; this is a request for public comment on regulatory obligations
Description
The Office of the Comptroller of the Currency (OCC) is seeking public comment on the renewal of its information collection titled "Retail Foreign Exchange Transactions" as part of its efforts to reduce paperwork and respondent burden. This collection involves reporting, disclosure, and recordkeeping requirements for national banks and Federal savings associations engaging in retail foreign exchange transactions. The OCC has submitted this collection to the Office of Management and Budget (OMB) for review and invites comments by May 20, 2026.