• Search
  • Search

Compliance: Six months until FinCEN’s CDD rule is effective

admin1 min readNovember 17, 2017

Credit unions now have less than six months to come into compliance with the Financial Crimes Enforcement Network’s (FinCEN) Customer Due Diligence (CDD) rule, effective May 11, 2018. CUNA has developed a number of tools to assist credit unions, including a CDD checklist, final rule summary, and CDD compliance chart. The rule includes provisions that address identifying the beneficial owners […]

Credit unions now have less than six months to come into compliance with the Financial Crimes Enforcement Network’s (FinCEN) Customer Due Diligence (CDD) rule, effective May 11, 2018. CUNA has developed a number of tools to assist credit unions, including a CDD checklist, final rule summary, and CDD compliance chart.

The rule includes provisions that address identifying the beneficial owners of legal entity accounts and financial institutions’ anti-money laundering (AML) programs.

Written by
admin
View all articles
Related articles

About Us

The League of Credit Unions & Affiliates provides a platform for advocacy, collaboration, and innovation, representing 381 credit unions across Alabama, Florida, Georgia, and Virginia and their 32.7 million members, as well as $453.6 billion in assets. The League serves as an advocate through credit union engagement, advocacy impact, Foundation resources, and LEVERAGE products and services. Join us in supporting credit unions by learning more at www.the-league.coop. Follow The League on LinkedIn, Facebook, X, and Instagram.

Social Channels

Follow us on all major social media platforms.