Skip to content
BOL Conferences
Learn More - Click Here!

Thread Options
#2174094 - 04/18/18 05:29 PM NYS DFS BSA Compliance report question
totallyconfused Offline
100 Club
Joined: Jul 2016
Posts: 104
I have possibly a stupid question. We are NOT a state chartered bank. We are an OCC regulated bank based in New York State. Do we fall under the requirement to file the BSA Compliance report?

Here is the definition given for Regulated Bank: “Bank Regulated Institutions” means all banks, trust companies, private bankers, savings banks, and savings and loan associations chartered pursuant to the New York Banking Law (the “Banking Law”) and all branches and agencies of foreign banking corporations licensed pursuant to the Banking Law to conduct banking operations in New York.

Return to Top
#2174454 - 04/20/18 03:37 PM Re: NYS DFS BSA Compliance report question totallyconfused
ACBbank Offline
Power Poster
Joined: Jul 2006
Posts: 4,372
New York City
I don't believe National Banks are regulated by state regulators. Have you ever had a regulatory exam with the NY DFS?
"100 victories in 100 battles isnt the most skillful. Subduing the other's military w/o battle is the most skillful." Sun-Tzu

Return to Top
#2175331 - 04/26/18 03:00 PM Re: NYS DFS BSA Compliance report question totallyconfused
edAudit Offline
Power Poster
Joined: Jul 2008
Posts: 4,797
You are here
Is this part of NYS DFS 504 that you are referring to?

If you do mortgages in the state than you may be subject to it at least on the mortgage side.
Opinions can be considered as coming from anywhere but my employer.


Return to Top