The NWCUA is supporting BECU CEO Benson Porter as a candidate to become the first-ever credit union professional on the FHLB Seattle board of directors. Ballots were mailed to eligible credit unions Friday and must be returned by Nov. 13.
A bill introduced in the Senate last month would require independent agencies, such as the CFPB and NCUA, to analyze the costs and benefits of new regulations and tailor new rules to minimize unnecessary burdens on the economy, a move that could ease the rate at which new regulations are introduced.
The IRS is hosting a pair of free webinars in May to help financial institutions stay safe, sound and compliant. The first will focus on identity theft and online fraud, with the second covering employment law.
FinCEN is issuing guidance to clarify, for currency transaction reporting purposes, the aggregation of multiple transactions conducted by businesses with common ownership.