Revisions to BSA Chapter X-Impact on Banks

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Question:

I have been reading about revisions to BSA, primarily chapter X. Could you please fill me in as to how this affects our bank and what measures we may need to take for compliance purposes?

Answer:

The only thing that basically happened is that the regulations were re-ordered. There were no substantive changes. From a compliance standpoint, just make sure if you quote the regulations in your policies and procedures you update your citations.

First published on BankersOnline.com 10/3/11