Finanse publiczne · 04/12/2013

Federal Reserve and Treasury Department Issue Final Rule on Funds Transfer Definitions

The Financial Crimes Enforcement Network and the Board of Governors of the Federal Reserve System have issued a Final Rule amending the definitions of 'funds transfer' and 'transmittal of funds' under the Bank Secrecy Act, aiming to maintain the current scope of these definitions in light of changes to the Electronic Fund Transfer Act.