Occasionally, the compliance team receives questions about interesting transactions conducted by members and whether a Currency Transaction Report (CTR) is required. Credit unions take their BSA/AML requirements seriously and are sometimes tempted to file [...]
A nonmember walks into a credit union’s branch in location A and completes a wire transfer for $6,000 to John Smith. Later that day, the same nonmember visits a different branch – in location [...]
Good compliance officers know that just reading the text of a regulation is not enough to actually understand the requirements, nor to meet examiner expectations. That’s because the world of regulation presents a lot [...]
