,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #fjfh  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,june #ab1 #bjah,mr4  
,pe>ce 7= himself & ,mr4 ,luetkemey]7   
introduc$ ! foll[+ bill2 :i* 0 ref]r$ to
 ! ,committee on ,f9ancial ,s]vices  ,a 
,,bill  ,to update doll> am\nt ?re%olds 
= c]ta9 curr5cy transaction reports &   
suspici\s activity reports1 to improve !
 %>+ ( suspici\s activity reports )9 a  
f9ancial gr\p1 & = o!r purposes4  #a4   
,%ort title ,?is ,act may be cit$ z !   
,c\nt] ,t]rorism & ,illicit ,f9ance     
,act4  #b4 ,updat+ ?re%olds = c]ta9     
curr5cy transaction reports & suspici\s 
activity reports  7a7 ,?re%olds = c]ta9 
curr5cy transaction reports  7#a7 ,9    
g5]al ,n lat] ?an ! end ( ! #ahj-;day   
p]iod beg9n+ on ! date ( ! enactm5t (   
?is ,act1 ! ,secret>y ( ! ,treasury %all
 revise regulations issu$ ) respect to  
section #ecac ( title #ca1 ,unit$ ,/ates
 ,code1 to update ea* #aj1jjj ?re%old   
am\nt 9 su* regulations to #cj1jjj4     
7#b7 ,?re%old = reports relat+ to co9s &

 curr5cy receiv$ 9 nonf9ancial trade or 
bus9ess ,section #ecca ( title #ca1     
,unit$ ,/ates ,code1 is am5d$ by /rik+  
#aj1jjj ea* place su* t]m appe>s 9 head+
 or text & ins]t+ #cj1jjj4  7b7         
,?re%olds = suspici\s activity reports  
,n lat] ?an ! end ( ! #ahj-;day p]iod   
beg9n+ on ! date ( ! enactm5t ( ?is     
,act1 ea* ,f$]al dep>tm5t or ag5cy t    
issues regulations ) respect to reports 
on suspici\s transactions describ$ "u   
section #ecah7;g7 ( title #ca1 ,unit$   
,/ates ,code1 %all update ea* #e1jjj    
?re%old am\nt 9 su* regulations to      
#aj1jjj & ea* #b1jjj ?re%old am\nt 9 su*
 regulation to #c1jjj4  7c7 ,updat+ !   
money s]vices bus9ess def9ition ?re%olds
 ,n lat] ?an ! end ( ! #ahj-;day p]iod  
beg9n+ on ! date ( ! enactm5t ( ?is     
,act1 ! ,secret>y ( ! ,treasury %all    
revise section #ajaj4ajj7;ff7 ( title   
#ca1 ,code ( ,f$]al ,regulations1 to    
update ea* #a1jjj ?re%old am\nt 9 su*   
regulations to #c1jjj4  #c4 ,/reaml9+   
requirem5ts = curr5cy transaction       

reports & suspici\s activity reports    
7a7 ,review ,! ,secret>y ( ! ,treasury  
79 consultation ) ,f$]al law en=cem5t   
ag5cies1 ! ,director ( ,national        
,intellig5ce1 & ! ,f$]al functional     
regulators & 9 consultation ) o!r       
relevant /akehold]s7 %all und]take a    
=mal review ( ! curr5t f9ancial         
in/itution report+ requirem5ts "u !     
,bank ,secrecy ,act & its implem5t+     
regulations & propose *anges to fur!r   
r$uce regulatory burd5s1 & ensure t !   
in=mation provid$ is ( a high degree (  
usefulness to law en=cem5t1 z set =? "u 
section #ecaa ( title #ca1 ,unit$ ,/ates
 ,code4  7b7 ,cont5ts ,! review requir$ 
"u subsection 7a7 %all include a /udy   
(-- 7#a7 :e!r ! timeframe = fil+ a      
suspici\s activity report %\ld be       
increas$ f #cj days2  7#b7 :e!r or n    
curr5cy transaction report & suspici\s  
activity report ?re%olds %\ld be ti$ to 
inflation or o!rwise p]iodically be     
adju/$2  7#c7 :e!r ! circum/ances "u :i*
 a f9ancial in/itution det]m9es :e!r to 

file a cont9u+ suspici\s activity       
report1 or ! processes foll[$ by a      
f9ancial in/itution 9 det]m9+ :e!r to   
file a cont9u+ suspici\s activity report
 7or bo?7 c be n>r[$2  7#d7 analyz+ !   
fields designat$ z critical on !        
suspici\s activity report =m & :e!r !   
numb] ( fields %\ld be r$uc$2  7#e7 !   
categories1 types1 & *>act]i/ics (      
suspici\s activity reports & curr5cy    
transaction reports t are ( ! greate/   
value to1 & t be/ support1 inve/igative 
priorities ( law en=cem5t & national    
security p]sonnel2  7#f7 ! increas$ use 
( exemption provisions to r$uce curr5cy 
transaction reports t are ( little or no
 value to law en=cem5t ef=ts2  7#g7 !   
mo/ appropriate ways to promote f9ancial
 inclusion & address ! adv]se           
consequ5ces ( f9ancial in/itutions      
de-risk+ entire categories ( high-risk  
relation%ips1 includ+ *>ities1 embassy  
acc\nts1 money s]vice bus9esses 7z def9$
 "u section #ajaj4ajj7;ff7 ( title #ca1 
,code ( ,f$]al ,regulations71 &         

correspond5t banks2  7#h7 ! curr5t      
f9ancial in/itution report+ requirem5ts 
"u ! ,bank ,secrecy ,act & its implem5t+
 regulations & guidance2 &  7#i7 su* o!r
 items z ! ,secret>y det]m9es           
appropriate4  7c7 ,report ,n lat] ?an ! 
end ( ! "o ye> p]iod beg9n+ on ! date ( 
! enactm5t ( ?is ,act1 ! ,secret>y ( !  
,treasury1 9 consultation ) law en=cem5t
 & p]sons subject to ,bank ,secrecy ,act
 requirem5ts1 %all issue a report to !  
,congress conta9+ all f9d+s &           
det]m9ations made 9 c>ry+ out ! review  
requir$ "u subsection 7a74  #d4 ,%>+ (  
suspici\s activity reports )9 a f9ancial
 gr\p  7a7 ,9 g5]al  7#a7 ,%>+ ) =eign  
bran*es & affiliates ,section #ecah7;g7 
( title #ca1 ,unit$ ,/ates ,code1 is    
am5d$ by add+ at ! end ! foll[+3  7#e7  
,%>+ ) =eign bran*es1 subsidi>ies1 &    
affiliates  7,a7 ,9 g5]al ,n lat] ?an   
#ahj days aft] ! date ( ! enactm5t ( ?is
 p>agraph1 ! ,secret>y ( ! ,treasury    
%all issue rules p]mitt+ any f9ancial   
in/itution ) a report+ obligation "u ?is

 subsection to %>e in=mation on reports 
"u ?is subsection ) ! in/itution's =eign
 bran*es1 subsidi>ies1 & affiliates = ! 
purposes ( combat+ illicit f9ance risks1
 not)/&+ any o!r provision ( law except 
subp>agraph 7,b74  7,b7 ,exception ,9   
issu+ ! regulations requir$ "u          
subp>agraph 7,a71 ! ,secret>y may n     
p]mit a f9ancial in/itution to %>e      
in=mation on reports "u ?is subsection )
 a =eign bran*1 subsidi>y1 or affiliate 
locat$ 9 a jurisdiction t--  7i7 is     
subject to c\nt]measures impos$ by !    
,f$]al ,gov]nm5t2 or  7ii7 ! ,secret>y  
has det]m9$ _c reasonably protect !     
privacy & confid5tiality ( su*          
in=mation4  4  7#b7 ,notification       
prohibitions ,section #ecah7;g77#b77;,a7
 ( title #ca1 ,unit$ ,/ates ,code1 is   
am5d$-- 7,a7 9 clause 7i71 by ins]t+    
aft] transaction has be5 report$ !      
foll[+3 or o!rwise reveal any in=mation 
t w\ld reveal t ! transaction has be5   
report$1 includ+ mat]ials prep>$ or us$ 
by ! f9ancial in/itution = ! purpose (  

id5tify+ & detect+ pot5tially suspici\s 
activity2 &  7,b7 9 clause 7ii71 by     
ins]t+ aft] transaction has be5 report$1
 ! foll[+3 or o!rwise reveal any        
in=mation t w\ld reveal t ! transaction 
has be5 report$1 includ+ mat]ials prep>$
 or us$ by ! f9ancial in/itution = !    
purpose ( id5tify+ & detect+ pot5tially 
suspici\s activity14  7b7 ,rulemak+ ,n  
lat] ?an ! end ( ! #ahj-;day p]iod      
beg9n+ on ! date ( enactm5t ( ?is ,act1 
! ,secret>y ( ! ,treasury %all issue    
regulations to c>ry out ! am5dm5ts made 
by ?is section4  #e4 ,fin,c,e,n         
no-action lett]s ,section #caj ( title  
#ca1 ,unit$ ,/ates ,code1 is am5d$--    
7#a7 by r$esignat+ subsection 7d7 z     
subsection 7e72 &  7#b7 by ins]t+ aft]  
subsection 7c7 ! foll[+3  7d7           
,no-,action lett]s ) respect to specific
 conduct  7#a7 ,9 g5]al ,! ,director (  
,fin,c,e,n %all issue regulations to    
e/abli% a process = ! issuance ( a      
no-action lett] by ,fin,c,e,n 9 response
 to an inquiry f a p]son or gr\p (      

p]sons conc]n+ ! application ( ! ,bank  
,secrecy ,act1 ! ,,usa ,,patriot ,act1  
or any o!r anti-money laund]+ & c\nt]   
t]rori/ f9anc+ law or regulation to     
specific conduct1 :i* %all include a    
/atem5t z to :e!r or n ,fin,c,e,n has   
any int5tion ( tak+ an en=cem5t or o!r  
regulatory action aga9/ ! p]son or gr\p 
) respect to su* conduct4  7#b7         
,consultation ,9 issu+ ! regulations    
describ$ "u p>agraph 7#a71 ! ,secret>y  
%all consult ) ! ,f$]al functional      
regulators & su* o!r ,f$]al dep>tm5ts & 
ag5cies z ! ,secret>y det]m9es          
appropriate4  7#c7 ,reliance on         
no-action lett]  7,a7 ,liability        
,not)/&+ any o!r provisions ( law1      
except = p>agraph 7#e77;,b71 a p]son    
describ$ "u subp>agraph 7,b7 :o relies  
^u a no-action lett] issu$ "u ?is       
subsection 9 accordance ) ! provisions &
 f9d+s ( su* lett] %all n1 z a result1  
be subject to any regulatory action or  
civil or crim9al p5alty "u ! ,bank      
,secrecy ,act1 ! ,,usa ,,patriot ,act1  

or any o!r anti-money laund]+ & c\nt]   
t]rori/ f9anc+ law or regulation )      
respect to ! activity cov]$ 9 !         
no-action lett]4  7,b7 ,p]sons cov]$ ,a 
p]son describ$ 9 ?is p>agraph is-- 7i7  
any p]son involv$ 9 ! specific conduct t
 is ! subject ( ! no-action lett]2 &    
7ii7 any p]son involv$ 9 conduct :i* is 
indi/+ui%able 9 all its mat]ial aspects 
f ! specific conduct t is ! subject ( ! 
no-action lett]4  7#d7 ,fees  7,a7 ,9   
g5]al ,! ,director ( ,fin,c,e,n %all    
develop a sy/em to *>ge a fee = ea*     
reque/ = a no-action lett] made "u ?is  
subsection 9 an am\nt suffici5t1 9 !    
aggregate1 to pay = ! co/ ( c>ry+ out   
?is subsection4 ,su* sy/em %all provide 
= a l[] fee = small bus9ess conc]ns &   
small f9ancial in/itutions comp>$ to o!r
 p]sons4  7,b7 ,notice & comm5t ,n lat] 
?an #de days aft] ! date ( ! enactm5t ( 
?is p>agraph1 ! ,director ( ,fin,c,e,n  
%all publi% a description ( ! fee sy/em 
describ$ 9 subp>agraph 7,a7 9 ! ,f$]al  
,regi/] & %all solicit comm5ts f !      

public = a p]iod ( #fj days aft]        
publication4  7,c7 ,f9alization ,!      
,director ( ,fin,c,e,n %all publi% a    
f9al description ( ! fee sy/em &        
implem5t su* fee sy/em n lat] ?an #cj   
days aft] ! end ( ! public comm5t p]iod 
describ$ 9 subp>agraph 7,b74  7#e7      
,modify+ or resc9d+ a no-action lett]   
7,a7 ,9 g5]al ,! ,director ( ,fin,c,e,n 
may modify or resc9d any no-action lett]
 issu$ "u ?is subsection if-- 7i7 9     
light ( *anges 9 /atute1 regulations1 or
 policy ! lett] no long] sets =? !      
int]pretation ( ,fin,c,e,n ) respect to 
! cont5t ( ! lett]2 or  7ii7 any fact or
 /atem5t submitt$ 9 ! orig9al inquiry is
 f\nd to be mat]ially inaccurate or     
incomplete4  7,b7 ,no reliance on       
resc9d$ lett] ,p>agraph 7#c7 %all n     
apply to ! any actions tak5 aft] ! date 
t a no-action lett] is resc9d$4  7,c7   
,retroactive modification or rescission 
,a no-action lett] may be modifi$ or    
resc9d$ retroactively only ) respect to 
"o or m p>ties to ! orig9al inquiry &   

only if ! ,director ( ,fin,c,e,n        
det]m9es t--  7i7 a fact or /atem5t 9 ! 
orig9al inquiry 0 mat]ially inaccurate  
or incomplete2  7ii7 ! reque/or fail$ to
 notify 9 writ+ ,fin,c,e,n ( a mat]ial  
*ange to any fact or /atem5t 9 ! orig9al
 reque/2 or  7iii7 a p>ty to ! orig9al  
inquiry act$ 9 bad fai? :5 rely+ ^u !   
no-action lett]4  7,d7 ,notice (        
modification & rescission ,9 ! case t ! 
,director ( ,fin,c,e,n modifies or      
resc9ds a no-action lett] "u ?is        
subsection1 ! ,director ( ,fin,c,e,n    
%all--  7i7 provide notice ( su*        
modification or rescission2  7ii7       
e/abli% a reasonable "t p]iod1 ( n less 
?an #ij days1 9 :i* impact$ p]sons may  
update _! anti-money laund]+ programs or
 processes to a*ieve compliance ) !     
,bank ,secrecy ,act1 ! ,,usa ,,patriot  
,act1 or any o!r anti-money laund]+ &   
c\nt] t]rori/ f9anc+ law or regulation4 
7#f7 ,def9itions ,= purposes ( ?is      
subsection3 7,a7 ,bank ,secrecy ,act ,! 
t]m ,bank ,secrecy ,act means--  7i7    

section #ba ( ! ,f$]al ,deposit         
,insurance ,act2  7ii7 *apt] #b ( title 
,i ( ,public ,law #ia-ejh2 &  7iii7     
sub*apt] ,,ii ( *apt] #ec ( ?is title4  
7,b7 ,f$]al functional regulator ,! t]m 
,f$]al functional regulator has ! mean+ 
giv5 t t]m "u section #ecab ( title #ca1
 ,unit$ ,/ates ,code4  7,c7 ,small      
bus9ess conc]n ,! t]m small bus9ess     
conc]n has ! mean+ giv5 "u section #c ( 
! ,small ,bus9ess ,act4  4  #f4 ,requir+
 ,treasury to take a m prom95t role 9   
coord9at+ ,,aml_/,,cft policy &         
exam9ations across ! ,gov]nm5t  7a7     
,priorities ,n lat] ?an n9e mon?s aft] !
 date ( ! enactm5t ( ?is ,act1 & at lea/
 annually !reaft]1 ! ,secret>y ( !      
,treasury1 act+ ?r\gh ! ,(fice (        
,t]rorism & ,f9ancial ,intellig5ce & !  
,f9ancial ,crimes ,en=cem5t ,network1 9 
consultation ) relevant ,f$]al law      
en=cem5t1 ! ,director ( ,national       
,intellig5ce1 & any o!r ,f$]al dep>tm5ts
 & ag5cies t ! ,secret>y ( ! ,treasury  
det]m9es appropriate1 %all e/abli% &    

make public its priorities = ,u4,s4     
anti-money laund]+ & c\nt] t]rori/      
f9anc+ policy4  7b7 ,sup]vision &       
exam9ation ,! incorporation by f9ancial 
in/itutions ( ! priorities e/abli%$     
pursuant to subsection 7a7 into !       
programs e/abli%$ by ^? f9ancial        
in/itutions to meet obligations "u !    
,bank ,secrecy ,act1 ! ,,usa ,,patriot  
,act1 & o!r anti-money laund]+ & c\nt]  
t]rori/ f9anc+ laws & regulations %all  
=m ! basis on :i* ! f9ancial in/itutions
 are sup]vis$ & exam9$ = compliance ) ^?
 obligations4  7c7 ,rule ( con/ruction  
,no?+ 9 subsection 7a7 may be con/ru$ z 
releas+ f9ancial in/itutions f !        
requirem5t to comply ) obligations "u ! 
,bank ,secrecy ,act & o!r ,f$]al laws & 
regulations4  7d7 ,report ,n lat] ?an   
n9e mon?s aft] ! date ( enactm5t ( ?is  
,act1 ! ,secret>y ( ! ,treasury 79      
consultation ) ,f$]al law en=cem5t      
ag5cies1 ! ,director ( ,national        
,intellig5ce1 & ! ,f$]al functional     
regulators7 %all submit to ! ,committee 

on ,f9ancial ,s]vices ( ! ,h\se (       
,repres5tatives & ! ,committee on       
,bank+1 ,h\s+1 & ,urban ,affairs ( !    
,s5ate a report conta9+--  7#a7 an      
analysis ( ! ,secret>y ( ! ,treasury's  
delegation ( exam9ation au?ority "u !   
,bank ,secrecy ,act1 includ+ ! adequacy 
( ! ,dep>tm5t ( ! ,treasury's res\rces1 
capacity1 exp]tise1 & ability to        
effectively c>ry out ! purposes ( !     
,bank ,secrecy ,act2  7#b7 an exam9ation
 ( :e!r ! ,secret>y %\ld de-delegate t  
au?ority ) reg>d to c]ta9 f9ancial      
in/itutions2 &  7#c7 legislative1       
adm9i/rative1 & o!r recomm5dations to   
/r5g!n ! ,dep>tm5t ( ! ,treasury's      
au?ority to ensure an effective ,u4,s4  
anti-money laund]+ & c\nt] t]rori/      
f9anc+ regime4  #g4 ,enc\rag+ ! use (   
te*nological innovations ,section       
#ecah7;h7 ( title #ca1 ,unit$ ,/ates    
,code1 is am5d$ by add+ at ! end !      
foll[+3  7#d7 ,enc\rag+ ! use (         
te*nological innovations  7,a7 ,9 g5]al 
,! ,secret>y ( ! ,treasury %all1 9 c>ry+

 out ?is subsection1 enc\rage b n       
require ! use ( te*nological innovations
 t improve anti-money laund]+ programs  
describ$ "u p>agraph 7#a74  7,b7 ,safe  
h>bor ,an anti-money laund]+ program t  
meets ! m9imum requirem5ts describ$ "u  
p>agraph 7#a7 & any m9imum /&>ds issu$  
pursuant to p>agraph 7#b71 %all n       
violate ! requirem5ts ( ?is subsection  
by reason ( any te*nological innovation 
us$ to c>ry out su* program4  7,c7 ,rule
 ( con/ruction ,no?+ 9 subp>agraph 7,a7 
may be con/ru$ z releas+ f9ancial       
in/itutions f ! requirem5t to comply )  
exi/+ obligations "u ! ,bank ,secrecy   
,act & o!r ,f$]al laws & regulations4  4
  #h4 ,assess+ ! usefulness ( ,bank     
,secrecy ,act report+  7a7 ,annual      
report ,n lat] ?an "o ye> aft] ! date ( 
enactm5t ( ?is ,act1 & annually !reaft]1
 ! ,attorney ,g5]al1 9 consultation )   
,f$]al law en=cem5t ag5cies & !         
,director ( ,national ,intellig5ce1     
%all1 to ! ext5t practicable at !       
discretion ( ! ,attorney ,g5]al1 provide

 ! ,secret>y ( ! ,treasury ) /ati/ics1  
metrics1 & o!r in=mation on ! use ( su* 
data1 includ+--  7#a7 ! ext5t to :i* su*
 data is us$ = t]rorism v]sus           
non-t]rorism relat$ inve/igations &1 )  
respect to su* non-t]rorism relat$      
inve/igations1 ! mo/ common types ( laws
 to :i* su* inve/igations relate2  7#b7 
! frequ5cy ) :i* su* data conta9s       
actionable in=mation :i* leads to fur!r 
law en=cem5t proc$ures1 includ+ ! use ( 
a subpo5a1 w>rant1 or o!r legal process2
 &  7#c7 in=mation on ! ext5t to :i*    
arre/s1 indictm5ts1 convictions1 or plea
 b>ga9s ( actors result f ! use ( su*   
data4  7b7 ,use ( report in=mation ,!   
,secret>y ( ! ,treasury %all utilize !  
in=mation report$ "u subsection 7a7--   
7#a7 to help assess ! usefulness ( ,bank
 ,secrecy ,act report+ to law en=cem5t2 
7#b7 to enhance fe$back & communications
 ) f9ancial in/itutions & o!r entities  
subject to ,bank ,secrecy ,act          
requirem5ts2 &  7#c7 = su* o!r purposes 
z ! ,secret>y det]m9es appropriate4  #i4

 #ah-,mon? ,en=cem5t ,safe ,h>bor (     
,,cdd ,rule ,no p]son %all be liable =  
any violation ( ! f9al rule ( !         
,dep>tm5t ( ! ,treasury titl$ ,cu/om]   
,due ,dilig5ce ,requirem5ts = ,f9ancial 
,in/itutions 7,,cdd rule7 publi%$ ,may  
#aa1 #bjaf 7#ha ,f$4 ,reg4 #bicig71 dur+
 ! #ah-mon? p]iod beg9n+ on ,may #aa1   
#bjah1 s long z su* p]son has made a    
good fai? ef=t to comply ) su*          
requirem5ts4  #aj4 ,/udies & reports    
7a7 ,b5eficial own]%ip ,n lat] ?an #b   
ye>s aft] ! date ( enactm5t ( ?is ,act1 
! ,comptroll] ,g5]al ( ! ,unit$ ,/ates  
%all conduct a /udy & submit to !       
,congress a report--  7#a7 evaluat+ !   
effectiv5ess ( ! collection ( b5eficial 
own]%ip in=mation "u ! ,,cdd rule 7z    
def9$ "u section #i71 includ+--  7,a7   
:e!r law en=cem5t ag5cies h _h timely   
access to ! in=mation2  7,b7 ! utility (
 su* in=mation 9 law en=cem5t           
inve/igations or prosecutions2  7,c7 an 
analysis ( ! report+ burd5 plac$ on     
f9ancial in/itutions v]sus ! utility (  

su* in=mation be+ made available to law 
en=cem5t2 &  7,d7 :e!r fur!r legislation
 is requir$ to r$uce regulatory burd5s  
or increase ! utility & timely access ( 
su* in=mation to law en=cem5t2  7#b7    
assess+ ! effectiv5ess ( incorporation  
practices implem5t$ "u ! ,,cdd rule4    
7b7 ,compreh5sive co/-,b5efit analysis  
,n lat] ?an #b ye>s aft] ! date (       
enactm5t ( ?is ,act1 ! ,comptroll]      
,g5]al ( ! ,unit$ ,/ates %all conduct a 
/udy & submit to ! ,congress a report-- 
7#a7 provid+ a compreh5sive quantitative
 & qualitative e/imate ( ! annualiz$    
co/s to ! private sector to comply ) !  
/atutory & regulatory requirem5ts ( !   
,bank ,secrecy ,act & relat$ anti-money 
laund]+ laws & regulations2  7#b7       
provid+ a compreh5sive qualitative &    
quantitative analysis ( ! effectiv5ess (
 ! curr5t anti-money laund]+ & c\nt]    
t]rori/ f9anc+ framework 9 prev5t+1     
detect+1 & prosecut+ t]rori/ & illicit  
f9anc+2  7#c7 provid+ a compreh5sive    
qualitative & quantitative analysis ( ! 

b5efits & co/s to bo? ! private sector &
 ! ,gov]nm5t ( ! private sector's       
compliance ) ! /atutory & regulatory    
requirem5ts ( ! ,bank ,secrecy ,act &   
relat$ anti-money laund]+ laws &        
regulations2 &  7#d7 exam9+ ! co/s borne
 & effect on access to f9ancial s]vices 
= consum]s & cu/om]s z a result (       
f9ancial in/itutions compliance ) !     
/atutory & regulatory requirem5ts ( !   
,bank ,secrecy ,act & relat$ anti-money 
laund]+ laws & regulations4  #aa4       
,def9itions ,= purposes ( ?is ,act3 7#a7
 ,bank ,secrecy ,act ,! t]m ,bank       
,secrecy ,act means--  7,a7 section #ba 
( ! ,f$]al ,deposit ,insurance ,act2    
7,b7 *apt] #b ( title ,i ( ,public ,law 
#ia-ejh2 &  7,c7 sub*apt] ,,ii ( *apt]  
#ec ( title #ca1 ,unit$ ,/ates ,code4   
7#b7 ,f$]al functional regulator ,! t]m 
,f$]al functional regulator has ! mean+ 
giv5 t t]m "u section #ecab ( title #ca1
 ,unit$ ,/ates ,code4  7#c7 ,f9ancial   
in/itution ,! t]m f9ancial in/itution   
has ! mean+ giv5 t t]m "u section #ecab 

( title #ca1 ,unit$ ,/ates ,code4