Uniform Commercial Code: Federal law covering Articles 8 (Securities) and 9 (Secured Transactions) that governs commercial transactions and the handling of securities and secured interests
Bank Secrecy Act: Federal law requiring financial institutions to assist government agencies in detecting and preventing money laundering in escrow transactions
USA PATRIOT Act: Federal law establishing Know Your Customer (KYC) requirements for financial transactions, including escrow arrangements
Federal Deposit Insurance Act: Federal law governing the protection of deposited funds and regulation of financial institutions handling escrow accounts
Truth in Lending Act: Federal law requiring disclosure of credit terms and standardizing the manner in which costs associated with borrowing are calculated and disclosed
State Escrow Laws: State-specific regulations governing escrow operations, varying by jurisdiction, including licensing requirements and operational procedures
State Banking Regulations: State-specific rules governing banking operations and their involvement in escrow services
State Licensing Requirements: Specific state-mandated licensing and certification requirements for escrow agents and companies
FDIC Regulations: Federal regulations governing the insurance and handling of deposited funds by financial institutions
CFPB Regulations: Consumer Financial Protection Bureau regulations protecting consumer interests in financial transactions including escrow arrangements
ALTA Guidelines: American Land Title Association professional standards and best practices for handling escrow transactions
Anti-Money Laundering Compliance: Regulatory requirements for preventing and detecting money laundering through escrow transactions
Record-Keeping Requirements: Legal obligations for maintaining accurate and detailed records of escrow transactions and related communications
Interest-Bearing Account Regulations: Rules governing the handling of interest generated on escrow accounts and required disclosures to parties
