Colleen Kelly, CUNA’s senior federal compliance counsel, has been appointed to serve on behalf of CUNA on the U.S. Treasury’s Financial Crimes Enforcement Network’s (FinCEN) Bank Secrecy Act Advisory Group (BSAAG).
BSAAG was established in 1992 by the Annunzio-Wylie Anti-Money Laundering Act. Membership is comprised of representatives from federal regulatory and law enforcement agencies, financial institutions, and trade groups subject to the reporting requirements.
The role of BSAAG is to advise the Treasury Secretary on BSA operational issues, and as chair of the advisory group, the director of FinCEN is responsible for ensuring that relevant issues are placed before the BSAAG for review, analysis, and discussion. to the Secretary on issues considered.
CUNA has been a member of BSAAG since its inception, representing state- and federally chartered credit unions.