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#162703 - 02/23/04 07:15 PM BSA Definition
Anonymous
Unregistered

Can someone please point me to the definition of a financial institution for BSA purposes? Thanks!

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#162704 - 02/23/04 07:18 PM Re: BSA Definition
Kansayaku Offline
Diamond Poster
Joined: Jan 2003
Posts: 1,454
metsuretsu
Bank Secrecy Regulation

Sec. 103.11 Meaning of terms

When used in this part and in forms prescribed under this part, where not otherwise distinctly expressed or manifestly incompatible with the intent thereof, terms shall have the meanings ascribed in this section.

(c) Bank. Each agent, agency, branch or office within the United States of any person doing business in one or more of the capacities listed below:
(1) A commercial bank or trust company organized under the laws of any State or of the United States;
(2) A private bank;
(3) A savings and loan association or a building and loan association organized under the laws of any State or of the United States;
(4) An insured institution as defined in section 401 of the National Housing Act;
(5) A savings bank, industrial bank or other thrift institution;
(6) A credit union organized under the law of any State or of the United States;
(7) Any other organization (except a money services business) chartered under the banking laws of any state and subject to the supervision of the bank supervisory authorities of a State;
(8) A bank organized under foreign law;
(9) Any national banking association or corporation acting under the provisions of section 25(a) of the Act of Dec. 23, 1913, as added by the Act of Dec. 24, 1919, ch. 18, 41 Stat. 378, as amended (12 U.S.C. 611-32).
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#162705 - 02/23/04 07:54 PM Re: BSA Definition
Ted Dreyer Offline
Diamond Poster
Ted Dreyer
Joined: Apr 2001
Posts: 2,245
If you mean the overall definition of "financial institution" for Bank Secrecy Act purposes it is in the statutes at http://www4.law.cornell.edu/uscode/31/5312.html
in section (a)(2).

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#162706 - 02/23/04 11:51 PM Re: BSA Definition
Anonymous
Unregistered

Thanks so much!!!

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#162707 - 02/24/04 12:20 PM Re: BSA Definition
Retread Offline
Power Poster
Retread
Joined: Oct 2003
Posts: 2,548
Southeast
For what it is worth, there is a slightly different version of 31 USC 5312 (Definitions) at
31 USC 5312

This is from the official US Code site, and it appears to be more current.
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