Bank Protection Act: Security-Related Procedures

Not Required Under the Bank Protection Act

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Question

First National Bank is a newly chartered bank. Which of the following security related procedures is NOT required under the Bank Protection Act?

Answers

A. Appoint a security officer

B. Write a security program

C. Hire a security consultant to inspect the bank for the effectiveness of the bank's security devices

D. Write procedures to assist in preserving evidence of crimes

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Explanations

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A. B. C. D.

The Bank Protection Act (BPA) was enacted to establish minimum security standards for financial institutions in the United States. It is intended to protect banks and their customers from robbery, burglary, and other crimes. In the case of First National Bank, a newly chartered bank, certain security-related procedures are required under the BPA.

Option A: Appoint a security officer The BPA requires all financial institutions to appoint a security officer to oversee the implementation and maintenance of the bank's security program. The security officer is responsible for identifying potential

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