America’s Credit Unions’ Luke Martone wrote to the Financial Crimes Enforcement Network (FinCEN) regarding the burden associated with completing suspicious activity reports (SARs). Martone also provided suggestions on how to improve the SAR reporting process. “As detailed below, we believe the burden estimate to complete a SAR of two hours is low, as members report …
This week, America’s Credit Unions will monitor several hearings in the House and Senate, as well as the April NCUA Board meeting. In addition, the organization kicks off Regulatory Compliance Certification School in Fort Lauderdale, Fla., and the sold-out Board of Directors and Supervisory Committee Conference in Newport, R.I., today. At the NCUA, the board …
America’s Credit Unions keeps credit unions informed with new posts on the Compliance Blog, published every Tuesday and Thursday. Here’s a look at what’s new on the blog: Is It a “Holiday” Or a “Business Day” Under Regulation Z?: With summer approaching, and with it several federal holidays, this post highlights how Regulation Z defines …
