This week: Comments due on AML/CFT proposal, Congress out

by America's Credit Unions

Congress remains in home districts through Nov. 12, and Leagues and credit unions continue to engage with policymakers leading up to the November general election. America’s Credit Unions and its PAC announced nearly $4 million in support for credit union champions from both parties leading up to Nov. 5.

Comments are due Tuesday on a joint proposal for financial institutions to establish, implement, and maintain effective, risk-based, and reasonably designed anti-money laundering and countering the financing of terrorist programs.

America’s Credit Unions commented on a similar proposal in September, noting that certain updates and changes would make credit union compliance less burdensome.

 

continue reading »