It's the Law Lesson

It's the Law

In our lesson on regulation and deregulation, we looked at three major legislative acts that directly affected the banking industry. But the laws don't stop with these three. View the presentation below to see more laws that affect banking and make it one of the most highly regulated industries in the country. 

Review

What Agency was established in 1934 to monitor and support banking institutions?	FDIC (Federal Deposit Insurance Company)
What law was enacted to set minimum security limits for banks?	Banking Protection Act of 1968
What act requires banks to report cash deposits of $10,000 or more.	Bank Secrecy Act
What was the Bank Secrecy Act written to prevent?	Money Laundering
What is the purpose of the U.S. Patriot Act?	To prevent international money laundering and financing of terrorism
List banking acts that deal with housing.	Fair Housing Act, Real Estate Settlement Procedures Act, Home Mortgage Disclosure Act.

 

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