Skip to content

Commercial Loan - SAR Filing

Answered by: 

Question: 
We have an insider whose commercial loan with our bank has recently been classified by the examiners and placed on non-accrual for non-performance/inadequate collateral. Does this warrant a SAR filing?
Answer: 

It is not illegal to get into financial straits, so there is nothing to warrant a SAR filing. If there were fraud related to the loan, you would be looking at a horse of a different color, and considering a SAR.

First published on BankersOnline.com 6/01/09

First published on 06/01/2009

Filed under: 
Filed under security as: 

Search Topics