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CFPB Releases Loss Mitigation Principle

Document outlines their principles to provide a framework for discussion about the future of loss mitigation.

Compliance Question of the Week

Are we required to give out copies of CTRs?

FinCEN Issues New Ruling on the Treatment of Armored Car Service Transactions

FinCEN has issued a new ruling on the treatment of armored car service transactions. Our compliance report details the impact on credit unions.

Legal Briefs

Your weekly update on the regulatory landscape.

Compliance Question of the Week

Does a CTR need to be filed when you know a member is placing more than $10,000 in a safe deposit box?

FinCEN Publishes Guidance on CTR Exemptions

FinCEN issued guidance this week to help financial institutions determine whether a customer or member is eligible for exemption from CTR requirements. The guidance is updated from a 2009 version to reflect the changes finalized this month.

Compliance Question of the Week

Should I file a CTR?

FinCEN Announces Informational Webinar: Updated Technical Specs for New SAR, CTR, DOEP

FinCEN will hold an informational webinar on Tuesday, May 8, 2012, to discuss the updated technical specifications for FinCEN’s new CTR and SAR and the recently released specifications for FinCEN’s new DOEP report.

FinCEN Releases Test Site for the New CTR and SAR

FinCEN has updated its BSA E-Filing System’s User Test System website to allow for testing submissions of batch and computer-to-computer filings of FinCEN’s new CTR and SAR. The site also offers a preview of the PDF versions of the new reports.

FinCEN Extends Deadline for Adopting New CTR and SAR

FinCEN announced that the deadline for financial institutions to utilize its new Currency Transaction Report and Suspicious Activity Report has been extended to March 31, 2013.

FinCEN Releases Technical E-Filing Specs for New CTR and SAR and Announces Informational Webinar

FinCEN has released electronic filing requirements for the Currency Transaction Report (CTR) and Suspicious Activity Report (SAR). The BSA E-Filing system will begin accepting batch filings matching the specifications for the new CTR and SAR in December 2011.

Legal Briefs July 15, 2010

Your update of the regulatory landscape.