Regulatory & Compliance

WASHINGTON-The Financial Crimes Enforcement Network and the Office of Thrift Supervision recently announced that each agency placed a hefty fine on BankAtlantic of Fort Lauderdale, Fla. for Bank Secrecy Act violations.

ALEXANDRIA, Va.-NCUA announced that it liquidated Yankton Employees Federal Credit Union in South Dakota for insolvency. The agency will issue checks to the credit union's 77 members by April 28. The accounts are insured up to $100,000 by the NCUSIF, NCUA assured. NCUA determined the credit union to be insolvent...

WASHINGTON-Credit unions should be active participants in fighting credit card fraud and safeguarding member information, NCUA Vice Chairman Rodney Hood told credit union officials during a recent conference. "In today's financial services landscape, ATM cards, debit cards and credit cards are now standard products credit unions offer members so they...

ALEXANDRIA, Va.-NCUA Chairman JoAnn Johnson and a handful of other key government officials will travel to Chicago to address the Midwest Regional Conference on Reaching Unbanked People. "I am honored to participate in this important Conference," Johnson commented. "It will not only provide education and insight into reaching the underserved,...

WASHINGTON-Acting FDIC Division of Supervision and Consumer Protection Director Sandra L. Thompson has announced the appointment of Sylvia H. Plunkett as the new regional director of the Division of Supervision and Consumer Protection's Chicago region. The appointment is effective May 14, after which Plunkett will oversee the FDIC's bank supervision...

ALEXANDRIA, Va.-NCUA has hired an old credit union hand as its new Freedom of Information Act officer. Dianne Salva, who has handled FOIA requests in recent years, has shifted over to the agency's litigation department but a familiar face is taking her place. Former NAFCU Director of Compliance Linda Dent...

WASHINGTON - In a rare twist, the Independent Community Bankers of America is opposing a regulator proposal that CUNA says is greatly needed. The Office of the Comptroller of the Currency's proposal considers a bank or thrift at risk if its total loans in construction, land development or other land...

WASHINGTON-Separating domestic and international wire transfers would be "problematic" for smaller financial institutions, including credit unions, CUNA said in a comment letter to the Financial Crimes Enforcement Network. Treasury, through FinCEN has been mandated by Congress to investigate the feasibility of reporting cross border electronic funds transfers in support of...