Vermont Regulator and Credit Union Reach Agreement on Use of ‘B-Word’

In settling with the state regulators, VSECU still may not describe itself as a bank but may use similar words when advertising its services as long as it discloses that it is a credit union.

Compliance Question of the Week

If a member wants to purchase a cashier’s check for $9,975 with a service fee of $50 and pay in cash, is the credit union required to file a currency transaction report (CTR)?