Legal Briefs

National Credit Union Administration (NCUA)

The NCUA issued Letter to Credit Unions 12-CU-05. The letter answers frequently asked questions about the NCUA’s interest rate risk rule, which will become effective on Sept. 30, 2012.

Office of Foreign Assets Control (OFAC)

The OFAC SDN list was updated again. Last update: May 8, 2012.

Federal Financial Institutions Examination Council (FFIEC)

FFIEC has implemented a new InfoBase technology for the Information Technology Examination Handbook. The new architecture provides the FFIEC member agencies with new capabilities, including the ability to make updates on more frequent basis.

Financial Crimes Enforcement Network (FinCEN)

FinCEN issued an alert to remind financial institutions that the deadline for mandatory e-filing of suspicious activity reports (SARs) and currency transaction reports (CTRs) is July 1, 2012.


Questions? Contact the Compliance Hotline: 1.800.546.4465,

Posted in Business Solutions, Industry Insight, Marketing & Communications, NCUA.