Northwest credit unions may wish to share the following resources with members in all three states.
The bureau found the advertisements either contained false, misleading, and inaccurate statements or failed to include required disclosures.
Financial institutions have an obligation to identify and report suspicious activity, including transactions that may involve the proceeds of corruption.
FinCEN also issued a statement describing factors used determine the appropriate enforcement response to actual or possible BSA violations.
Credit unions should contact the respective federal agencies to report fraud and file Suspicious Activity Reports as appropriate.
The statement provides prudent practices for credit unions to work with borrowers in a safe and sound manner as loans near the end of accommodation periods.
The site includes information regarding the process, qualifying vendors, training, and the RON notice form.
Fraudsters are compromising Twitter accounts of public figures, organizations, and financial institutions to solicit payments to CVC accounts.
The updated priorities include BSA and CARES Act compliance, consumer financial protection, credit risk management, cybersecurity, and more.
Credit unions should provide all pertinent and available information regarding scams in SARs.
The guidance identifies types of information financial institutions can collect from those businesses to comply with regulatory requirements.
The guidance promotes flexibility when examining financial institutions affected by COVID-19.
The FAQ comes in addition to a previously issued statement informing lenders of credit reporting requirements.
A series of joint initiatives will help credit unions better understand EXIM loans and resources.