Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
CUNA issues comment call on BSA amendments
WASHINGTON (8/13/09)—The Credit Union National Association (CUNA) has issued a regulatory comment call on the Financial Crimes Enforcement Network’s (FinCEN) proposed amendments to the Bank Secrecy Act’s (BSA) money services business (MSB) provisions. The revisions clarify which entities are covered by the BSA regulations and update the MSB regulations and definitions to reflect past guidance and rulings, current business operations, evolving technologies, and emerging business lines. The revisions would also apply the rules of the BSA to some foreign-based MSBs with ties to the U.S. The proposed rule also seeks comment from the industry on stored value products. While the proposed rule does not make any substantive changes at this time, FinCEN is seeking comment from the industry on stored value products to assist with a future rulemaking. Comments are due to CUNA by Aug. 26. Comments solicited by FinCEN should be submitted by Sept. 9. To view the CUNA comment call, use the link.


RSS print
News Now LiveWire
Goodwill Industries latest to report data security breach http://t.co/gIaXNsT4Bk
12 hours ago
CUNA economist Schenk discusses regulators' focus on interest-rate risk. See CU Magazine: http://t.co/tW1p9rTSSv
14 hours ago
Fed issues annual report on general-use prepaid cards in gov't-administered payment programs. http://t.co/3zPhejSPZt
14 hours ago
Children in foster care face higher risk of identity theft via @NBCNews http://t.co/Dif0hCfBdA
14 hours ago
.@Cornerstone_CUL's leadership conference includes food drive for San Antonio food bank http://t.co/h2O8O4TxuD
15 hours ago