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To address U.S. and Mexican law enforcement’s concerns about potential misuse of exemptions and incomplete or inaccurate reports filed by armored car services (ACS) and other common carriers of currency, FinCEN has issued a Geographic Targeting Order (GTO) that requires enhanced cash reporting by these businesses at the San Ysidro and Otay Mesa Ports of Entry in California.
FinCEN also issued updated guidance concerning detailed and proper filing of Currency and Monetary Instrument Reports (CMIRs), which are filed when $10,000 or more in currency is moved across the U.S. border.
TILA-RESPA Integrated Disclosures Webcast
Credit union professionals can join other participants on Aug. 26 at 11 a.m. (Pacific) for the second in a series of discussions on the TILA-RESPA Integrated Disclosures rule (Truth In Lending/Real Estate Settlement Procedures Act).
This Aug. 26 session will focus on addressing specific questions related to rule interpretation and implementation challenges that have been raised to the Bureau by creditors, mortgage brokers, settlement agents, software developers, and other stakeholders. Future sessions will continue to address specific questions and challenges. The CFPB anticipates a substantial volume of compliance and interpretive questions during implementation, and plans to use these webinars to consolidate and address these questions in a way that promotes consistent understanding of the rules and provides a resource that stakeholders may reference.
The first webcast session was presented by the CFPB on June 17, and provided an overview of the final rule and the new disclosures. Click here to access a recording of the first webinar.
IMPROVE YOUR COMPLIANCE IN 2016
updated 11/24/15 07:46 AM
Informative ComplySight Webinars
Kick off the New Year with ComplySight and make sure your regulatory compliance is at its finest in 2016 and beyond.
NEW FFIEC MGMT. BOOKLET
updated 11/16/15 12:06 PM
NCUA Portal Open to CUs
The Federal Financial Institutions Examination Council (FFIEC) issued a revised Management booklet, as part of the FFIEC Information Technology Examination Handbook (IT Handbook). Click here for the booklet.