Press

NAFCU statement in response to Credit Union Times Report on FinCEN sharing of reports with NCUA

WASHINGTON, DC (June 8, 2015) — National Association of Federal Credit Unions (NAFCU) Senior Vice President of Government Affairs and General Counsel Carrie Hunt issued the following statement in response to a Credit Union Times article today that reported that the Financial Crimes Enforcement Network (FinCEN) will now begin sharing draft Bank Secrecy Act reports about credit unions with the National Credit Union Administration (NCUA) before they are finalized.

“It is vital that FinCEN coordinate with NCUA effectively and transparently every step of the way to ensure that accurate information is being promulgated about individual credit unions,” said Hunt. “Bank Secrecy Act compliance remains a top focus of our members.”

The National Association of Federal Credit Unions is the only national trade association that exclusively represents the interests of federally chartered credit unions before the federal government and the public.

---