Also: Insights to BSA/AML exams revealed; NAFCU says clarity needed on marijuana banking
NAFCU TODAY | The News You Need Daily.
July 23, 2019
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Hood added to notable Caucus lineup [ [link removed] ]
NCUA Board Chairman Rodney Hood will provide an update on the agency's efforts at NAFCU's Congressional Caucus, joining a lineup that includes President Donald Trump's Acting Chief of Staff and Director of the Office of Management and Budget Mick Mulvaney, Federal Housing Finance Agency Director Mark Calabria, and officials from the Treasury Department and Office of the Director of National Intelligence.
FI regulators offer insights to BSA/AML supervision [ [link removed] ]
The NCUA, along with three other federal bank regulators and the Financial Crimes Enforcement Network (FinCEN), on Monday issued a joint statement related to Bank Secrecy Act (BSA)/anti-money laundering (AML) supervision that is "intended to improve transparency into the risk-focused approach used for planning and performing BSA/AML examinations."
Clarity needed on marijuana banking, NAFCU tells Senate committee [ [link removed] ]
NAFCU Vice President of Legislative Affairs Brad Thaler reiterated NAFCU's support for greater clarity and legal certainty at the federal level for credit unions that service marijuana-related businesses (MRBs) in states where the drug has been legalized.
Equifax to pay $700M for 2017 breach [ [link removed] ]
The CFPB, Federal Trade Commission and 48 states, the District of Columbia and Puerto Rico yesterday announced a $700 million settlement with Equifax related to its 2017 data breach that affected more than 147 million U.S. consumers. This incident in particular brought renewed focus to NAFCU's longstanding call for a national data security standard.
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