Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Comment on BSA definition changes sought by CUNA
WASHINGTON (1/4/13)--The Credit Union National Association (CUNA) is asking credit unions to detail any concerns they may have regarding proposed changes to the definitions of "funds transfer" and "transmittal of funds" under the Bank Secrecy Act (BSA).

The Federal Reserve Board and the Financial Crimes Enforcement Network (FinCEN) proposed the definition changes last November. The new definitions are intended to maintain the current scope of the terms in light of changes to the Electronic Fund Transfer Act that otherwise would result in certain currently covered transactions being excluded from BSA requirements.

In its Comment Call, CUNA asks credit unions to share their views by Jan. 14. Comments are due to the agencies by Jan. 25.

Use the resource link to access the CUNA Comment Call.
Other Resources

CUNA Comment Call
RSS print
News Now LiveWire
#creditunion-community ties stressed during public funds depository testimony by @MassLeague See #NewsNow http://t.co/K7OrwuvhxM
14 minutes ago
Large CU stress testing on the agenda for the April @theNCUA open meeting http://t.co/2TUcnmCmPi
9 hours ago
#FinancialLiteracyMonth Test your college financial aid knowledge @nasfaa http://t.co/xgrDmHaw8W
17 hours ago
Join @theNCUA #NCUAchat with @KenWortheyJr on April 23 from 11am to 12pm EST http://t.co/TnNmfFh4Nl #FinancialLiteracyMonth
19 hours ago
Maine's patent troll bill has become law. Read more in Monday in @NewsNowLiveWire
21 hours ago