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#2253648 - 05/07/21 03:31 PM BSA Policy review period
Secret Squirrel Offline
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Joined: Jun 2017
Posts: 21
We have a new CEO and she is reviewing all items that go to the BOD. There is a question regarding the annual review of our BSA policy. They want regulations that specifically state that the policy be reviewed during a time period. Is there a specific time period in BSA regs for the policy review?

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#2253662 - 05/07/21 07:50 PM Re: BSA Policy review period Secret Squirrel
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,672
Galveston, TX
There is no specific review period as the BSA policy has to be approved and not reviewed. How often you choose to have the board reaffirm the policy when there have been no changes is a business decision, but most banks do it annually just so they don't have to argue with the examiners.
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#2253684 - 05/07/21 11:30 PM Re: BSA Policy review period Secret Squirrel
Secret Squirrel Offline
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Joined: Jun 2017
Posts: 21
Thank you

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