Regulatory & Compliance

The Financial Crimes Enforcement Network issued advisories to banks and other financial institutions of serious deficiencies in the anti-money laundering systems of the Republic of Uzbekistan, the Turkish Cypriot administered area of Cyprus, and the Islamic Republic of Iran.

NAFCU is encouraging credit unions to make their voices heard during a series of public comment meetings hosted by the Small Business Administration on its lender oversight and credit risk management systems.

Nearly half of all checks written today are consumer to business, according to a recently released study by the Federal Reserve.

NCUA Vice Chairman Rodney E. Hood addressed attendees of the National Federation of Community Development Credit Unions Mortgage Lending Seminar and commended them for their positive work in the current economy and stressed the importance of continuing to "be a part of the solution."

The board of directors of the Federal Reserve Bank of St. Louis appointed James B. Bullard as the bank's new president/CEO.

ALEXANDRIA, Va -- It's no surprise that the NCUA would not favor a proposal from the U.S. Treaury that would eliminate a specific credit union charter and the agency itself, but the agency refrained from actually saying that and chose instead to couch its objections in terms of credit union...