Posts Tagged ‘Customer Due Diligence’

Compliance: NCUA provides CDD, beneficial owner rule info

Compliance: NCUA provides CDD, beneficial owner rule info

NCUA’s latest supervisory letter (SL-18-01) addresses compliance with the new Bank Secrecy Act (BSA) customer due diligence (CDC) and beneficial ownership rules. According to the agency, once the BSA Questionnaire and consumer compliance violations [...]

Compliance: 6 months until FinCEN’s CDD rule is effective

Compliance: 6 months until FinCEN’s CDD rule is effective

Credit unions now have less than six months to come into compliance with the Financial Crimes Enforcement Network's (FinCEN) Customer Due Diligence (CDD) rule, effective May 11, 2018. CUNA has developed a number of tools [...]

New Customer Due Diligence requirements may be in place soon

The Financial Crimes Enforcement Network published new proposed rules under the Bank Secrecy Act on Aug. 4. The new rules are a continuation of the current Customer Due Diligence requirements all financial institutions need to [...]

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