Threshold for the Requirement to Collect, Retain, and Transmit Information on Funds Transfers and Transmittals of Funds; Regulation S, Docket No. R-1258

The Food Marketing Institute is pleased to respond to the Advance Notice of Proposed Rulemaking (ANPR) published jointly by the Financial Crimes Enforcement Network (FinCEN) of the Department of the Treasury, and the Board of Governors of the Federal Reserve System entitled, “Threshold for the Requirement to Collect, Retain, and Transmit Information on Funds Transfers and Transmittals of Funds.” 71 Fed. Reg. 35564 (June 21, 2006). The agencies issued the ANPR jointly to seek information on the potential impact that a lower threshold might have on financial institutions funds transfer or transmittal of funds practices.