FinCEN Proposes Relaxation of CTR Exemption Rules; NAFCU Softball
Last week, FinCEN announced a notice of proposed rulemaking that would relax CTR exemption rules. Read FinCEN's press release about the proposal here.  Read the actual notice of proposed rulemaking as it appeared in the Federal Register here. In FinCEN's words:
Under the NPRM, depository institutions would:
1. No longer be required to file exemption forms for, or to annually review, customers that are depository institutions, government agencies, or entities acting with governmental authority;
2. No longer be required to biennially renew a designation of exempt person filing for otherwise eligible Phase II customers; and
3. No longer be required to wait 12 months before designating otherwise eligible Phase II customers for exemption.
NAFCU is working on a Regulatory Alert, and the next BSA Blast will focus on the proposal. Stay tuned.
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Last Thursday, NAFCU's softball team (1-3) split a double header against the always strong Jefferson Retirement Home Employees squad. We won game one 9-3 and lost game two 4-2.  We think the other team cheated during game two, but that's a whole other story.
Game highlights:
- Two more NAFCU employees pulled a hamstring. We may need to require mandatory stretching.
- Raymond Araneta (events and education) was on fire all night at the plate.
- Pat "Kentucky Kid" Morris (EVP/MVP) did a superb job of pitching.
- Steve "Big Blue" Van Beek (regulatory compliance) was a terror at the plate and scooped up everything hit remotely in the direction of short-stop.
- Larry Moore (HR and administration), who hadn't picked up a bat in a while, was on base all night.
- Alicia Hosmer (marketing) and Kristina Kennedy (regulatory affairs) were key contributors, both at the plate and on defense.