[SS Fed] USA PATRIOT Act and Bank Secrecy Act
The USA PATRIOT Act (the PATRIOT Act) was enacted in response to the September 11, 2001 terrorist attacks. The portions of the PATRIOT Act that impact mortgage lending transactions are contained in Title III, which is called the International Money Laundering Abatement and Anti-Terrorist Financing Act of 2001. The PATRIOT Act strengthens the U.S. government’s ability to take action to address money laundering.
This course provides an overview of the PATRIOT Act, including which entities are required to comply with the law and the specific requirements for such entities.