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Annual BSA Program Approval?

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Question: 
Does the BSA require that the Board of Directors approve a bank's BSA program on an annual basis? If so, where is that specified in the reg?
Answer: 

You will not find this requirement in the BSA requirements. That said, some banks have all policies reviewed & approved by the Board annually.

First published on BankersOnline.com 8/4/03

First published on 08/04/2003

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