Bank Protection Act - File Annual Report to FDIC?

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Question:

Does the Bank Protection Act require that we file an annual report to the FDIC?

Answer:

No, you don't have to file an annual report to the FDIC on the BPA, but you do have to report at least annually to your board. My recommendation is that the bank's security officer provides this report in person.

First published on BankersOnline.com 9/15/08