Topic: Bank Secrecy Act
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NCUA & other federal regulators want feedback on AML/CFT proposals
COMMENT CALL: The NCUA and other federal financial institution regulators have proposed to amend their rules that require credit unions and others to have effective, risk-based, anti-money laundering and countering the financing of […]
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FinCEN eases beneficial ownership verification at each new account opening
NEWS: Under the 2016 Customer Due Diligence (CDD) beneficial ownership rules, credit unions must have written procedures to identify “beneficial owners” – the people who own and control “legal entity customers/members” – […]
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NCUA’s 2026 Supervisory Priorities
NEWS: The NCUA has released its 2026 Supervisory Priorities, outlining where examiners will focus their attention this year as part of a risk-based supervision approach tailored to individual credit union profiles. This […]
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FinCEN issues interim final rule removing BOI reporting requirements for U.S. companies and persons
NEWS: The rule for companies to report beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN) was back on in February 2025, as you may recall from this Compliance Courier. […]
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BOI rules going back into effect
NEWS: Yesterday, a federal judge in Texas lifted an order that blocked the enforcement of a federal anti-money laundering law that requires business entities to disclose the identities of their real […]
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League comments on FinCEN’s AML/CFT proposal; similar NCUA proposal pending
NEWS: Today, The League filed a comment letter with FinCEN on a proposal to modernize its requirements for Bank Secrecy Act (BSA) programs – now to be called anti-money laundering and countering the financing of […]
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League comments on FinCEN’s AML/CFT proposal; similar NCUA proposal pending
NEWS: Today, The League filed a comment letter with FinCEN on a proposal to modernize its requirements for Bank Secrecy Act (BSA) programs – now to be called anti-money laundering and countering the financing of […]
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FinCEN proposes to update anti-money laundering rules
COMMENT CALL: FinCEN recently issued a proposal to modernize its requirements for Bank Secrecy Act (BSA) programs – now to be called anti-money laundering and countering the financing of terrorism (AML/CFT) programs. Soon […]
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Is your credit union on the lookout for human trafficking?
ANALYSIS: Human trafficking – including forced labor and sex trafficking – is a growing crime, but often an invisible one. Your members could be involved, as victims or perpetrators, and your […]
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Former Credit Union BSA Compliance Officer fined 100,000.
NEWS: This heading should have caught your attention on a Monday morning. The Financial Crimes Enforcement Network (FinCEN) has the authority to investigate and impose civil money penalties on […]