Electronic Fund Transfer Act (EFTA): Federal law that provides a basic framework establishing the rights, liabilities, and responsibilities of participants in electronic fund transfer (EFT) systems.
Regulation E: Implements the Electronic Fund Transfer Act and establishes the basic rights, liabilities, and responsibilities of consumers who use electronic fund transfer services.
UCC Article 4A: Uniform Commercial Code Article governing wholesale wire transfers between banks and commercial entities.
Bank Secrecy Act (BSA): Requires financial institutions to assist government agencies in detecting and preventing money laundering by keeping records of cash purchases and reporting suspicious activity.
USA PATRIOT Act: Enhances anti-money laundering requirements and includes provisions for preventing terrorism financing through financial institutions.
Federal Reserve Regulation J: Governs check processing and wire transfers through the Federal Reserve System.
FinCEN Requirements: Financial Crimes Enforcement Network regulations for reporting and compliance requirements to prevent financial crimes.
KYC Requirements: Know Your Customer protocols requiring banks to verify the identity of their clients and assess potential risks.
SAR Requirements: Suspicious Activity Reporting obligations requiring financial institutions to report suspicious transactions that might signal criminal activity.
CFPB Regulations: Consumer Financial Protection Bureau rules protecting consumers in their transactions with financial institutions.
Fair Credit Reporting Act: Federal law regulating the collection, dissemination, and use of consumer credit information.
State Banking Regulations: State-specific laws and requirements governing banking operations within individual states.
SWIFT Regulations: Rules governing international payment messaging and transfer systems through the SWIFT network.
OFAC Requirements: Office of Foreign Assets Control regulations ensuring compliance with U.S. sanctions and embargoes in international transfers.
