As directed by the Bank Secrecy Act (BSA), the Department of Treasury's FinCEN requires financial institutions, including credit unions, to report transactions in currency in excess of $10,000. The Money Laundering Suppression Act of 1994 amended the BSA by establishing a statutory system of exempting transactions by certain customers of depository institutions. This system devised two types of exemptions: mandatory exemptions and discretionary exemptions.
Already a member? Log in
Members Get More |
This page contains member-only content.Membership is open to all federally insured credit unions in the United States, both federally and state-chartered. Members enjoy:
|
If you are already logged in and believe you should have access to member-only content, please contact us for assistance at info@americascreditunons.org.