Final Bank Secrecy Act Rule Authorizes Disclosure of Information to States

In a final rule, effective October 22, 1987, Treasury has clarified the regulation authorizing the disclosure of report information to the U.S. Congress consistent with the purposes of the Bank Secrecy Act (hereinafter "BSA").  Treasury also proposed to expressly authorize making other types of disclosures of BSA records where disclosure is consistent with the purposes of the Act, such as to states that have enacted cash reporting statutes similar to the BSA for equivalent law enforcement purposes.