Red Flag Rules
The Red Flags Rules are part of the Fair and Accurate Credit Transactions (FACT) Act of 2003. Under these Rules, financial institutions and creditors with covered accounts must have identity theft prevention programs in place by November 1, 2008, to identify, detect, and respond to patterns, practices, or specific activities that could indicate identity theft.
The Money Laundering Control Act of 1986 is a United States Act of Congress that made money laundering a Federal crime.
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.