Sec. 7207. Certain violators barred from serving on boards of United States financial institutions
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/bill/116/hr/6395/pcs/section-7207·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 5321 of title 31, United States Code, is amended by adding at the end the following: An individual found to have committed an egregious violation of a provision of (or rule issued under) the Bank Secrecy Act shall be barred from serving on the board of directors of a United States financial institution for a 10-year period beginning on the date of such finding. With respect to an individual, the term egregious violation means— a felony criminal violation for which the individual was convicted; and a civil violation where the individual willfully committed such violation and the violation facilitated money laundering or the financing of terrorism. .