SAN ANTONIO - Thirty states and Puerto Rico with representatives attending the Conference of State Bank Supervisors' annual meeting recently in San Antonio, signed information sharing agreements with the Financial Crimes Enforcement Network that provides a framework for enhanced collaboration and information sharing between federal and state agencies in meeting the objectives of the Bank Secrecy Act. New York was the first state to sign the agreement in April. The other states that have signed the agreement as of June 1 were: Arkansas, Arizona, California, Connecticut, Delaware, Georgia, Idaho, Indiana, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Missouri, Nebraska, Michigan, Montana, North Carolina, Nevada, Oklahoma, Pennsylvania, South Dakota, Tennessee, Texas, Utah, Washington, West Virginia and Wyoming. FinCEN Director William Fox said the agreements "will go a long way toward enhancing our oversight and administration of the Bank Secrecy Act." CSBS said its goal is to obtain signatures from all 50 states.
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From the June-15, 2005 issue of Credit Union Times Magazine • Subscribe!
Thirty States Sign Information Sharing Agreement with FinCEN
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