President Signs ATM, CFPB Bills

President Obama signed two bills with implications for credit unions into law Thursday. An NWCUA-supported bill improving ATM fee disclosures will provide regulatory relief and protection from predatory lawsuits, while the other ensures privacy protection when working with the CFPB.

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)?