WASHINGTON (12/21/15)--Nominations are open for spots on the U.S. Treasury’s Financial Crimes Enforcement Network’s (FinCEN) Bank Secrecy Act Advisory Group (BSAAG). Nominations must be received by Jan. 19, and new members will be selected to serve three-year membership terms.
CUNA has been a member of BSAAG since its inception, representing state- and federally chartered credit unions.
Statute requires the Treasury to establish a BSAAG consisting of representatives from federal regulatory and law enforcement agencies, financial institutions and trade groups with members subject to the requirements of the Bank Secrecy Act (BSA). The director of FinCEN serves as the group’s chair.
The designated representative should be knowledgeable about BSA requirements. The representative also must be able and willing to commit the necessary time to participate on committees throughout the year by phone and attend meetings in Washington, D.C., in May and October.