Many credit unions are being prevented from combating criminal activity in the financial system because of inconsistent Bank Secrecy Act/Anti-Money Laundering (BSA/AML) requirements.
That’s according to Brad Thaler, vice president of legislative affairs for the National Association of Federally-Insured Credit Unions (NAFCU).
Read on for excerpts of Thaler’s recent letter to the House Financial Services Committee, which is considering several proposals to make changes to AML safeguards.
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