news.cuna.org/articles/112498-cuna-witness-to-talk-bsaaml-compliance-before-sbc-wed

CUNA witness to talk BSA/AML compliance before SBC Wed.

June 26, 2017

A witness will testify on behalf of CUNA before a House subcommittee this week on compliance with the Bank Secrecy Act, among other happenings in Washington, D.C. this week. Faith Anderson, senior vice president and general counsel of American Airlines FCU, Fort Worth, Texas, will speak before the House Financial Services subcommittee on financial institutions and consumer credit Wednesday.

The hearing will examine the Bank Secrecy Act/Anti-money Laundering (BSA/AML) regulatory compliance regime.

Specifically, it will look at “compliance challenges facing financial institutions, including compliance trends, the effectiveness of current reporting requirements, and opportunities to improve and enhance the federal government’s ability to combat money laundering and terrorist financing.”

The hearing is scheduled to begin at 2 p.m. (ET) Wednesday, and will be streamed live on the committee’s website.

CUNA is also engaged with the following hearings this week:

  • Wednesday 10 a.m. (ET): House Financial Services subcommittee on monetary policy and trade hearing titled “The Federal Reserve’s Impact on Main Street, Retirees and Savings;” and
     
  • Thursday, 10 a.m. (ET): Senate Banking Committee hearing titled "Principles of Housing Finance Reform."