BSA
What does SAR stand for?
Suspicious Activity Report
What does Reg P cover?
Privacy
What is used to determine how often an area/topic is audited?
Risk Assessment
What is the CTR threshold?
$10,000
What does CRA stand for?
Community Reinvestment Act
Who is Waterford Bank's regulator/examiner?
The OCC
What is the Bank's BSA/AML software?
Verafin
How many days must a customer be notified that their property is located in a SFHA?
10 days
Who approves the scope of an audit?
The Audit Committee
What are the CIP requirements?
Name, Physical Address, Tax ID, and Birthdate
Who does Reg O apply to?
Executive officers, board of directors and their related interests.
Who presents reports to the Audit Committee?
Auditor - must be done independently