Picture of Karen Weiss

Numerica’s Karen Weis Appointed to FinCEN BSA Advisory Group

Weis will bring the perspective of a financial institution banking marijuana, to the advisory group responsible for its guidance.

Compliance Center: NCUA Releases 2015 Regulation Review List

NCUA reviewing one third of its regulations; answer to your question about automatic loan payments; plus legal briefs.

Compliance Center: FinCEN Administrative Ruling on Currency Transporters, Notary Training, and More

FinCEN issues an administrative ruling on the application of regulations to currency transporters; notary training dates; question of the week and legal briefs.

Compliance Center: FinCEN Advisory on Promoting a Culture of BSA/AML Compliance

FinCEN recently issued an advisory to financial institutions, laying out guidelines that can help foster a strong culture of BSA/AML compliance. Also in the Compliance Center: legal briefs and the question of the week.

FinCEN: Marijuana Guidance is Working; More Than 100 FIs Serving Pot Industry

More than 100 financial institutions are serving legal marijuana businesses, according to FinCEN. The agency’s director says the guidance FinCEN issued to banks and credit unions in February is working.

FinCEN Issues Proposed Rule Enhancing Customer Due Diligence Requirements

FinCEN released a proposed rule to enhance customer due diligence requirements at financial institutions. Find out what it means for credit unions in this week’s Compliance Center. Also: legal briefs and the question of the week.

NCUA Instructs Examiners to Follow FinCEN Marijuana Guidance

The NCUA is instructing examiners to follow FinCEN guidance related to banking legal marijuana businesses. It’s a move expected to offer some reassurance to credit unions.

DFI Open Forum on Banking the Marijuana Industry

On Tuesday June 24, the Washington State Department of Financial Institutions (DFI) along with the Washington State Liquor Control Board (WSLCB) hosted an open forum on banking the legal marijuana industry. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “What is our liability if we offer a ‘two-signatures required’ account?”

Federal Guidance ‘Gives Comfort’ that Credit Unions Can Serve Licensed Marijuana Businesses, DFI Says

Guidance issued earlier this year by the Financial Crimes Enforcement Network (FinCEN) does not change federal law when it comes to providing banking services to marijuana businesses, Washington state regulators said Thursday, but “there is a difference between a law and a decision whether to enforce it.” DFI Director Scott Jarvis and Director of Credit Unions Linda Jekel made their comments at the NWCUA’s Leadership Symposium in Portland.

FinCEN ‘Unlocks the Door’ to Serving Marijuana-Related Businesses, Attorney Says

FinCEN’s guidance for credit unions that want to serve marijuana-related businesses certainly provides clarity, attorney Hal Scoggins writes, but it brings minimal regulatory relief.

FinCEN Issues Guidance on Offering Financial Services to Marijuana-Related Businesses

Washington credit unions can provide financial services to marijuana-related businesses, the federal Financial Crimes Enforcement Network said in a guidance issued Friday afternoon, but the decision to do so comes with increased due diligence and very specific risk-analysis requirements.

Compliance Question of the Week

Are we required to give out copies of CTRs?

Legal Briefs

Your weekly update on the regulatory landscape.

Legal Briefs

Your weekly update on the regulatory landscape examines the monthly economic update from the NCUA, the stabilization fund assessment, and news from the FRB and U.S. Mint.

Legal Briefs

Your weekly update on the regulatory landscape includes an announcement on a new loan participation rule, an invitation to an NCUA Town Hall webinar and a fraud alert for consumers.

Legal Briefs

Your weekly update on the regulatory landscape.

Legal Briefs

Your weekly update on the regulatory landscape.

Legal Briefs

Your weekly update on the regulatory landscape.