news.cuna.org/articles/109790-inside-washington

Inside Washington

March 15, 2016

WASHINGTON (3/15/16)--Video of last month’s National Credit Union Administration (NCUA) board meeting is now available. During the meeting, the board finalized a final member business lending rule that removes most requirements not in the Federal Credit Union Act. The agency’s chief financial officer also presented a quarterly update on the National Credit Union Share Insurance Fund. Videos of past board meetings remain on the NCUA’s website for one year…

WASHINGTON (3/15/16)--The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued guidance that reiterates the anti-money laundering program obligations of money services business (MSB) principals. The guidance is designed to help these principals to understand and appropriately account for the risks associated with their agents. According to FinCEN, it issued the guidance, a reiteration of 2004 guidance regarding MSBs, to complement recent guidance from states addressing MSB principal-agent relationships…