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Geithner Defends Plan to Cut State, Local Access to BSA Data
By Colby Adams
printThe proposed cancellation of 142 federal bank data sharing agreements with state and local law enforcement agencies would not impact financial crime investigations, U.S. Treasury Secretary Timothy Geithner said Wednesday. Speaking before the House Appropriations Subcommittee on Financial Services and General Government, Geithner said the measure, which would trim $1.4 million from the Financial Crime Enforcement Network (FinCEN) budget, would not "materially affect the capacity of state and local authorities to carry out those basic obligations." Under the plan, state and local investigators would no longer have direct access to FinCEN's Gateway/Secure Outreach computer system and would have to request...
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