ITG FAQ #4 Answer-Does the IRS have jurisdiction of banks? What agency has jurisdiction over banks?

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ITG FAQ #4 Answer-Does the IRS have jurisdiction of banks? What agency has jurisdiction over banks?

The IRS is responsible for Bank Secrecy Act (Title 31) compliance examinations on financial institutions not under regulatory supervision of federal banking agencies or the Securities and Exchange Commission (SEC).

The Office of Financial Institutions in each state should be able to furnish a listing of all banks.

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Page Last Reviewed or Updated: October 05, 2011