Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Economic sanctions remain a primary tool used by the U.S. government to achieve foreign policy goals. The last several years have seen significant enhancements to the various OFAC lists, particularly those that relate to Venezuela, Iran and Crimea. While historically, sanctions risk for credit unions was low, in the past few decades there has been significant growth in the size of credit unions, the consumer bases they serve and the products they offer. This has introduced new types of risk for credit unions, one of which is that a member or partner could engage in transactions with sanctioned entities.

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.