Deeply embedded compliance costs are difficult to account. We modeled non-interest expenses using all U.S. community banks and found the 2001 USA Patriot Act increased the compliance burdens, but particularly for banks with casinos in their state. Changes in policy pertaining to the Bank Secrecy Act include Congress modernizing the BSA provisions because the rules leave excessive room for interpretation and subjectivity across examiners and courts. Additionally, a publication showing the effectiveness of BSA reporting could benefit bankers and help make compliance more cost efficient.
"The Additional Burden of the Bank Security Act on Community Banks in States with Casinos,"
Southern University College of Business E-Journal: Vol. 17:
2, Article 1.
Available at: https://digitalcommons.subr.edu/cbej/vol17/iss2/1