FinCEN published a Small Entity Compliance Guide to assist the small business community in complying with the beneficial ownership information (BOI) reporting rule, intended to help businesses determine if they are required to report their beneficial ownership information.
Treasury Secretary Janet Yellen announced Thursday the appointment of Andrea Gacki as director of the Treasury Department’s Financial Crimes Enforcement Network (FinCEN). Gacki presently serves as the Director of the Office of Foreign Assets Control (OFAC).
CUNA supports a beneficial ownership information
database as a “significant opportunity to improve the quality and timelines of BOI information for law enforcement and financial institutions,” but believes FinCEN ‘s interpretation is too narrow and is counter to Congressional intent.
Credit Union Rock Stars are outstanding credit union professionals and directors from a wide range of disciplines who inspire and innovate to advance the missions of their credit unions. The 25 members of the 11th class of Rock Stars were selected for their exceptional creativity, innovation, and passion.