news.cuna.org/articles/109668-inside-washington

Inside Washington

March 3, 2016

WASHINGTON (3/3/16)--The U.S. Treasury’s Financial Crimes Enforcement Network has proposed to clarify and revise certain provisions in the rules regarding the filing of Reports of Foreign Bank and Financial Accounts (FBAR). The revisions would mainly apply to financial professionals who file FBARs due to their employment responsibilities. The FBAR is a calendar year report ending Dec. 31 of the reportable year. Beginning with the 2016 tax year, as changed by recent legislation, the due date for FBAR reporting will be April 15 of the year following the Dec. 31 report ending date. The due date for this year remains June 30…

WASHINGTON (3/3/16)--Debt collection, identity theft and impostor scams (in that order) were the most common categories of consumer complaints received by the Federal Trade Commission in 2015. While debt collection complaints rose to the top spot, the report notes that this was due in large part to a surge in complaints contributed by a data contributor who collects complaints via a mobile app. Identity theft complaints increased more than 47% from 2014, and had been the top category for the previous 15 years…