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
The 2014 @CUwomen Forum was held in Gold Coast, Australia yesterday during @WOCCU 's World CU Conference.
1 hours ago
.@CFPB obtains $92M in debt relief from Colfax Capital Corp. http://t.co/QPZAeCAcy2 See also: http://t.co/Kjf4HHkINW
2 hours ago
Julian Castro was sworn in as 16th secretary of @HUDgov Dept. of Housing and Urban Development Mon.
2 hours ago
.@CUNA's Chief Economist @SchenkMike talks consumer confidence--at highest levels since 2007 w/ @TheStreet @JoeDeaux http://t.co/JyoYQmhAxc
3 hours ago
RT @CUNA: .@CUNA's Jeremy Dalpiaz congratulates @reppittenger on reg relief bill consideration after @FinancialCmte markup http://t.co/9JMG…
3 hours ago