Regulatory & Compliance

Illinois Governor Rod Blagojevich has recently signed three Illinois Credit Union League-initiated legislative measures into law.

he Federal Reserve Board issued a notice last week regarding illegitimate checks being drawn on an entity named TUC Private Currency Office and other questionable practices by The United Cities Corp., Miami, Fla.

NCUA recently announced five orders of prohibition against former credit union employees, including one from Dover New Jersey Spanish American Federal Credit Union currently under a cease and desist order from the agency.

NCUA and the federal banking agencies and others have revised the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) Examination Manual again.

Ryan Donovan has made the change from California & Nevada Credit Union League director of federal government affairs to CUNA vice president of legislative affairs as of Sept. 4.

Federal credit unions located in Hawaii must comply with the requirements of the Hawaii Financial Abuse Act that requires federal credit unions to report suspected financial abuse of an elder, according to an NCUA legal opinion.