Earlier this week, FinCEN issued a proposed regulation and proposed guidance that may tweak the confidentiality of SARs.
- Read the NAFCU Today Article here.
- Access FinCEN's Press Release here. (From there, you can access all the proposals.)
The proposals touch upon a number of things. FinCEN hopes they will help clarify the confidentiality of SARs, as well as to clarify the ability to share SARs between entities and their affiliates.
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NCUA has released NCUA Letter to Federal Credit Unions 09-FCU-04. This was done to give all Federal Credit Unions access to Supervisory Letter 09-01. This letter clarifies how examiners are supposed to treat credit unions that have been negatively affected by NCUA's Corporate Stabilization Plan. Access the letter and its attachments here. In short, credit unions are not supposed to be penalized for the negative affects of NCUA's stabilization plan. I'd give the guidance a thorough read.
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