Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation NN

In 2013, the Board promulgated Regulation NN - Retail Foreign Exchange Transactions (12 CFR 240) to implement section 742(c)(2) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act). This section relates to the regulation of banking institutions that engage in foreign currency transactions with retail customers. Regulation NN includes certain reporting, recordkeeping, and disclosure requirements for banking institutions that elect to provide foreign currency exchange services to retail consumers. The regulation applies to state member banks, uninsured state-licensed branches of foreign banks, financial holding companies, bank holding companies, savings and loan holding companies, agreement corporations, and Edge Act corporations (collectively, banking institutions) that engage in retail foreign exchange transactions.

The latest form for Reporting, Recordkeeping, and Disclosure Requirements Associated with Regulation NN expires 2022-08-31 and can be found here.

Reporting Section 240.4

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