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NAFCU supports bill reforming Bank Secrecy Act

The National Association of Federally-Insured Credit Unions (NAFCU) NAFCU’s Vice President of Legislative Affairs Brad Thaler issued the following statement after Rep. Barry Loudermilk introduced the Financial Reporting Threshold Modernization Act (H.R. 6850), which would reform the Bank Secrecy Act (BSA):

"Credit unions are committed to combating criminal activity throughout our financial system," said Brad Thaler, NAFCU’s Vice President of Legislative Affairs. “Representative Loudermilk’s bill will help ensure credit unions are able to focus more closely on catching illegal activity rather than being bogged down by stacks of paperwork and compliance exams. We thank Representative Loudermilk for his efforts to modernize the current BSA/AML regime.”

NAFCU

We provide credit unions with the best federal advocacy, education and compliance assistance in the industry. The National Association of Federally-Insured Credit Unions (NAFCU) is a direct membership association for federally insured credit unions. We are committed to representing, assisting, educating and informing our member credit unions to help them grow, and help grow the credit union industry. Over the years we have been able to build on our foundation, growing stronger with our members and steadfast in our beliefs and focus: providing unwavering federal advocacy, top-rated education, one-of-a-kind compliance assistance and supreme responsiveness. Why? Because we believe credit unions are the best and they deserve the best.  

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