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BSAAG Group Meeting & CUNA Nominations

Feb
25

Credit Union National Association (CUNA) staff participated in the U.S. Treasury’s Bank Secrecy Act Advisory Group (BSAAG) meeting last week with the Financial Crimes Enforcement Network (FinCEN), regulators, and financial institutions. At the meeting, CUNA continued to advocate for efforts to minimize regulatory burdens on credit unions and small financial institutions that have limited compliance resources and staff, and to promote more efficient Bank Secrecy Act (BSA) rules.

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Treasury Settlement with HSBC Bank on BSA and OFAC Violations

Dec
17

The U.S. Department of the Treasury announced this week a collective settlement with HSBC Bank, reached by the Financial Crimes Enforcement Network (FinCEN), the Office of the Comptroller of the Currency (OCC), and the Office of Foreign Assets Control (OFAC), as part of a combined federal, local, and international government action.  It was the largest bank settlement regarding the Bank Secrecy Act (BSA) and sanctions in U.S.

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Bank Secrecy Act "Funds Transfers" Definition Proposed Rule

Dec
03
Bank Secrecy Act "Funds Transfers" Definition Proposed Rule

The Financial Crimes Enforcement Network (FinCEN) and the Federal Reserve Board have proposed amendments to the regulatory definitions of “funds transfer” and “transmittal of funds” under the Bank Secrecy Act (BSA) regulations.

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CUNA Advocacy Report: May 14

May
14
CUNA Advocacy Report: May 14

The latest CUNA Regulatory Advocacy Report is available and covers:

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BSA Certification Awarded to Two MCUA Compliance Consultants

Jan
18

To further expand their ability to serve the compliance needs of Missouri credit unions, two of the Missouri Credit Union Association’s (MCUA’s) compliance consultants recently completed a rigorous set of qualifications to earn the Credit Union National Association (CUNA) Bank Secrecy Act Compliance Specialist certification.

MCUA’s Karen Baker and Sarah Easley completed more than 30 credits of Bank Secrecy Act education and passed a proctored test prior to receiving the certification.

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Bank Secrecy Act and Payments Fraud Update

Dec
06

 

Last week, the Credit Union National Association (CUNA) staff attended the Financial Crimes Enforcement Network (FinCEN)’s Bank Secrecy Act Advisory Group (BSAAG) Banking Subcommittee call to discuss the Financial

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