Federal Agencies Mull Sharing SARs with Company Affiliates
Federal regulators are considering whether to allow banks and thrifts to share “suspicious activity reports,” or SARs, with mortgage companies and other affiliates. The regulatory banking agencies – the Office of the Comptroller of the Currency, Federal Deposit Insurance Corp., Federal Reserve Board, and Office of Thrift Supervision – said they may issue guidance shortly on SAR-sharing with domestic and foreign affiliates. …