Topic: Office of Foreign Assets Control (OFAC)
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TRID disclosures need to reflect Realtor commissions
Q&A: Here’s a question that a Wisconsin credit union recently asked The League’s Legal Affairs team, along with our answer. Do you have a compliance question? Contact The League’s Compliance Hotline […]
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OFAC Compliance Hotline moving to online platform
NEWS: The U.S. Department of the Treasury issued this bulletin to announce that it will be retiring OFAC’s Compliance Hotline email (OFAC_Feedback@treasury.gov) on August 16, 2024, and the OFAC Compliance Hotline telephone […]
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MISC: Guidance for Compliance with OFAC in regard to ACH (June 2009)
A corporate credit union offers guidance on policy development. (No endorsement implied.)
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MISC: Guidance for Compliance with OFAC in regard to ACH (June 2009)
A corporate credit union offers guidance on policy development. (No endorsement implied.)
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OFAC: Specially Designated Nationals and Blocked Persons List
This list is the SDN list of parties whose transactions must be blocked or rejected. The list is updated frequently. Save this link so that you can easily access the […]
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OFAC: Palestinian Legislative Council (PLC) List
This list is NOT part of the Specially Designated Nationals [SDN] List. As of 2006, credit unions must check this list as well as the SDN list. Transactions involving these […]
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OFAC: Office of Foreign Assets Control
OFAC’s Compliance Hotline (800) 540-6322 OFAC has installed the special toll-free telephone number for financial institution compliance questions. Be sure to consult this OFAC hotline when you may have detected […]
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OFAC: Free online search tool
To search the SDN list for a single name, such as at account opening, credit union staff can use OFAC’s online “Specially Designated Nationals” search tool. The link includes a […]
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OFAC: Foreign Assets Control Regulations for the Financial Community (January 24, 2012), 41 pp.
OFAC provides official guidance on the various foreign assets control regulations.
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OFAC Risk Assessment Matrix (1/12)
Examiners require that credit union management assess which areas of operation create the most risk for OFAC violations and then tailor the credit union’s OFAC policies, procedures and processes on […]