Bank Secrecy Act

Topics

While the Bank Secrecy Act (BSA) has been around for almost 50 years, it continues to provide challenges to a number of banks in the Region. As such, we intend to highlight a couple of important areas – BSA software/adjustments to rulesets and BSA staffing – as well as provide an overview of the new beneficial ownership requirements. Finally, given that many of the states in the Region have legalized marijuana to some extent, we will discuss regulatory expectations that flow from FINCEN guidance.