THE WORKS Blog, Credit Union Compliance News & Views

      Jun 22, 2018

      Unveiling a Hidden Crime: Human Trafficking

      Although it is nearly four years old, the FinCEN Advisory, Guidance on Recognizing Activity that May be Associated with Human Smuggling and Human Trafficking – Financial Red Flags, is still one of...
      Jun 01, 2018

      FinCEN’s Suspicious Activity Report Gets Enhanced

      As you all know, new and updated data fields were added to the online Currency Transaction Report (CTR) last year and recently there was a deadline to meet a new format requirement for CTR batch...
      May 10, 2018

      First Rule of SARs: You Do Not Talk About SAR Filings

      The U.S. Treasury Department’s inspector general’s office said it has opened an investigation into whether confidential banking records, SARs and other BSA information, have been “improperly...
      Apr 24, 2018

      Mutilated Currency: Now What?

      It’s singed. It’s brittle. It’s moldy. It’s torn. It is disintegrating.
      Apr 11, 2018

      It’s Crunch Time for BSA’s New CDD Rule

      The May 11, 2018 date for compliance is only a month away! Did you cross all the t’s and dot all the i’s? Here are three good questions from our Compliance Hotline. Check them out so you can...
      Deposit Accounts, ACH
      Mar 22, 2018

      Maximum Number of ACH Deposits for Tax Refunds

      It is that time of year, so let’s talk about Automated Clearing House (ACH) direct deposits for tax refunds. Recently, we received a great question from a credit union asking if credit unions are...
      Feb 27, 2018

      What's the Deal with REAL ID?

      I’m sure it sounds familiar, it has been a long time coming! The REAL ID Act was passed in 2005 and is a piece of legislature that imposes much stricter measures on how people can obtain a driver’s...
      Feb 13, 2018

      What to Do When Suspecting a Counterfeit Note

      I can remember using a counterfeit detector pen to make a small mark on all large bills ($50s and $100s) when accepting deposits that were being counted by hand. Doing this was a quick way to assure...
      Jul 18, 2017

      It Was Just A Matter Of Time…Mandatory Arbitration Clauses

      It was just a matter of time before other types of loan contracts and agreements caught up with Regulation Z amendments made in 2013, banning “terms that require arbitration or any other non-judicial...
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