Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
State supervisors and bankers urge exam reform and relief from BSA/AML and CTR burdens
Summary
Witnesses and members described Bank Secrecy Act/AML compliance and transaction reporting as a major and rising cost for community banks; they also pressed for clearer exam coordination, CAMELS transparency and an independent supervisory appeals process.
A recurrent theme in witness testimony and questioning was the cost and complexity of Bank Secrecy Act (BSA) and anti‑money laundering (AML) compliance, along with frustration about opaque supervisory exams and CAMELS ratings.
Susanna Marshall, Commissioner of the Arkansas State Bank Department, said state supervisors see community banks as “the economic bedrock” of many counties and said that static regulatory thresholds and heavy BSA/AML supervision are “strangling smaller institutions.” She and others called for…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
