The U.S. economy lost some momentum in the third quarter of 2015, but forecasters expect moderate growth over the next 18 months, according to National Credit Union Administration Chief Economist Ralph Monaco.
The National Credit Union Administration should present a field-of-membership proposal that will “foster and facilitate credit union growth,” board member J. Mark McWatters wrote in this month’s The NCUA Report.
CUNA President/CEO Jim Nussle said Thursday that the field-of-membership rule changes proposed by the National Credit Union Administration at its open board meeting will provide greater choice for consumers, as well as flexibility for credit unions to better serve their communities.
Human trafficking, money laundering, trade-based money laundering and terrorist financing all come with their own sets of red flags for financial institutions. In addition, entities such as money services businesses and cash-intensive businesses can be legitimate, but also have potential to be used for illicit activities.