Financial Crimes Enforcement Network Issues Two Notices

Notices have implications for credit union Bank Secrecy Act programs.

NWCUA Provides Credit Union Members with Extensive Compliance Resources at Their Fingertips

Contact your Association’s compliance expert staff when your credit union has a question or needs assistance.

BCFP Provides Updated FCRA Disclosures to Reflect S. 2155 Changes

S. 2155 requires nationwide consumer reporting agencies to provide security freezes free of charge to consumers.

Regulators Issue Interagency Statement Clarifying the Role of Supervisory Guidance

Unlike a law or regulation, supervisory guidance does not have the force and effect of law.

Identity Thieves are Opening More Fraudulent Accounts Online

NWCUA experts advise credit unions to be on the lookout, check for inconsistencies in information provided by fraudsters.

DCU Issues Bulletin Regarding Focus on Liquidity and Interpretive Letter on Verification of Members’ Accounts

Credit unions over $50 million in assets must have a written contingency funding plan for addressing liquidity shortfalls in emergency situations.

NCUA Releases Examination Guidance for Customer Due Diligence on FinCEN’s Beneficial Ownership Rule

The recently released letter highlights the examination expectations of NCUA examiners as well as considerations for credit unions to protect themselves against FinCEN penalties.

Steps Credit Unions Need to Take to Protect Themselves from Cyber Vulnerabilities

Credit unions should check with their IT departments to ensure they have protocols in place should a data breach occur.

Counterfeit Cashier’s Checks are on the Rise in the Northwest

NWCUA experts advise credit unions on what to look for and how to respond.

NCUA Releases FAQ About the Impact of S. 2155 on Credit Unions

Changes include areas of member business lending, appraisals, and the Home Mortgage Disclosure Act.

What Credit Unions Need to Know About Fraudulent Wire Transfers

Wire schemes are on the rise and credit unions need to take steps to stop them.

Credit Unions in Oregon Seeing Short-form Death Certificates

Your Association helps clarify how a short-form death certificate is used.

Tap Into the Compliance Resource Center for Expert Advice and Valuable Solutions

Information on cybersecurity, a compliance library, regulatory implementation tool kit, and much more available to you.

WA DOR Assessing Fines for not Remitting Funds for Unclaimed Accounts Electronically

The DOR’s amendment affects the unclaimed property reports that are filed with the state by credit unions.