WASHINGTON, DC (June 5, 2026) |
Today, the Defense Credit Union Council (DCUC) responded to the U.S. Department of the Treasury’s (Treasury) Financial Crimes Enforcement Network’s (FinCEN) Joint Advisory on Non-Work Authorized Populations and Their Employers and Risks to the Integrity of the U.S. Financial System:
"Credit unions have long served as trusted stewards of the financial system, balancing member service with a strong commitment to compliance and financial integrity," said Anthony Hernandez, DCUC President/CEO, Ret. U.S. Air Force Colonel. "DCUC welcomes efforts to provide financial institutions with clear guidance and practical tools to identify suspicious activity, strengthen risk management practices, and support the collective effort to combat fraud and other illicit financial activity."
Jason Stverak, DCUC Chief Advocacy Officer, adds, "We look forward to working with regulators and industry partners to ensure credit unions have the resources needed to effectively fulfill these responsibilities, while continuing to advocate for a risk-based, tailored approach that recognizes the unique challenges of smaller credit unions and avoids unnecessary regulatory burden."