Bank Secrecy Act compliance is rated the highest among compliance areas where financial institutions would like to see some relief, according to results of a survey published in Friday’s American Banker newspaper.
The Banker surveys industry representatives on a different issue each quarter and reports it in a special “Executive Forum” report. In this recent report, the Banker focused on compliance concerns, including those related to specific regulatory areas, examinations and the Basel capital proposals.
This is the second year in a row in which BSA was the top compliance area where respondents want relief. On average, this issue was rated 8.1 out of a potential 10, with 10 being most important. Ranked after BSA were:
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