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2014 FILE SPECIFICATIONSConsumer Financial Protection Bureau (CFPB) Federal Deposit Insurance Corporation (FDIC) Board of Governors of the Federal Reserve System (FRS) Department of Housing and Urban
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It refers to financial entities or transactions that do not involve traditional banks or credit unions.
Entities or individuals that operate outside the traditional banking system and engage in financial activities that require reporting.
One needs to complete specific forms and provide necessary financial information related to transactions or activities outside traditional banking.
The purpose is to monitor and regulate financial activities that occur outside of regulated banking systems.
Entities must report details regarding their financial activities, transactions, and other relevant data that provides a clear picture of their operations.
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