Procedures for Bank Secrecy Act Compliance Are Published

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Sunday, February 1, 1987
Author: 
Bruce Zagaris
Volume: 
3
Issue: 
2
Abstract: 
The January 27, 1987 issue of the Federal Register contains procedures for monitoring the Bank Secrecy Act.  The Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Federal Home Loan Bank Board, and the National Credit Union Administration ("the agencies") are amending their respective regulations to require the financial institutions that they regulate (referred to as the "regulated institutions") to establish and maintain procedures to assure and monitor compliance with the requirements of subchapter II of chapter 53 of Title 31, United States Code.