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.
Related Terms
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Money Services Business (MSB)
Money Services Business is a legal term defined by federal law and regulation. Part of a 1999 ruling revising the regulatory definitions of certain non-bank financial institutions for purposes of the Bank Secrecy Act (BSA)....
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Money Laundering Control Act (MLCA)
The Money Laundering Control Act of 1986 is a United States Act of Congress that made money laundering a Federal crime.
