Also: Join over 12,000 members in NAFCU Networks; FinCEN, regulators clarify certain CDD requirements
NAFCU TODAY | The News You Need Daily.
August 25, 2020
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Senate Banking Committee leaders to address CUs at Caucus [ [link removed] ]
Senate Banking Committee Chairman Mike Crapo, R-Idaho, and Ranking Member Sherrod Brown, D-Ohio, are the newest editions to NAFCU's Virtual Congressional Caucus lineup. In their leadership positions, Crapo and Brown play an integral role in shaping discussions and legislative policies related to credit unions and various financial services issues.
NAFCU Networks reach 12,000 users [ [link removed] ]
In less than two years, NAFCU Networks have reached more than 12,000 total registered members. Launching first in 2018 with the CFO Network, the online communities have expanded to encompass five other role-specific platforms for credit union professionals to connect with peers on key industry issues.
FI regulators, FinCEN issue interagency statement to clarify PEP due diligence requirements [ [link removed] ]
Banking regulators, including the NCUA, in conjunction with Financial Crimes Enforcement Network (FinCEN) issued a joint statement Friday clarifying due diligence requirements for politically exposed persons (PEPs). Of note, the statement clarifies that although a financial institution must adopt appropriate risk-based procedures for conducting customer due diligence (CDD), the CDD rule does not create additional due diligence requirements or supervisory expectations for PEPs.
CFOs: What issues are most concerning right now? [ [link removed] ]
As credit unions continue to deal with changing regulatory and economic environments amid the coronavirus pandemic, NAFCU wants to know: What issues are keeping industry CFOs and related financial executives up at night?
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