62 Credit Unions Agree to Late-Filing Penalties

Three Northwest credit unions are among 62 that agreed to pay penalties for filing late Call Reports, the NCUA reports.

FinCEN Issues SAR Confidentiality Reminder for Financial Institutions

The unauthorized disclosure of a SAR is a violation of federal law, and both civil and criminal penalties may be imposed for SAR disclosure violations, including fines of up to $250,000 and up to five years in prison.

WesCorp’s Top Guns to Face Trial in Suit Brought by Regulator

A federal court ruling dismisses negligence charges against directors of WesCorp but key executives still face trail in a civil suit claiming their actions caused the huge corporate to fail.