Glossary

Bank Secrecy Act (BSA)

Requires financial institutions in the United States to assist U.S. government agencies to detect and prevent money laundering.

Related Terms

  • Financial Institution

    Any public or private bank, credit union, or savings and loan, subject to national and state banking laws, and capable of both accepting deposits and making loans. These institutions collect funds from the public or...

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  • Correspondent Banking

    A relationship entered into between a small bank and a big bank in which the big bank provides a number of deposit, lending, and other services.

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