WASHINGTON -- The Financial Crimes Enforcement Network, an office of the Treasury Department, sent out a call for nominations of financial organizations and trade associations to serve on its Bank Secrecy Act Advisory Group.
The BSA regulator announced it was seeking nominations in the Dec. 7 edition of the Federal Register with nominations due to the agency by Jan. 8. The group advises the Treasury Secretary on the operations relating to BSA and is comprised of regulatory and law enforcement agencies, financial institutions, and trade groups subject to the reporting requirements.
New members will be selected to serve a three-year term. Applications should include contact information, a description of the financial institution or group, and why its participation would bring value to the advisory panel.
In trying to maintain a balance within the group, FinCEN specifically encouraged applications from a state regulatory agency, and a state regulator group, a banking sector trade group, banking industry representatives, among others not relating to credit unions. Groups whose terms are ending as of Feb. 28, 2007 include Pentagon Federal Credit Union, the New York State Banking Department, the Independent Community Bankers of America, BB&T, Morgan Stanley, and others.