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Criminal Resource Manual 432 Bank Supervisory Agency Exception

432

Bank Supervisory Agency Exception

Agencies listed in 12 U.S.C. § 3401(6) which exercise supervisory or regulatory functions with respect to financial institutions have free access to financial records to perform audits, develop regulations, monitor monetary policies and similar activities without providing customer notice or certification of compliance. Such supervisory agencies are also permitted to exchange examination reports and "other information" with other supervisory agencies without restriction under 12 U.S.C. § 3412(d).
Updated February 19, 2015