Agencies Issue Joint Statement on BSA/AML Resource Sharing

FinCEN and the federal depository institution regulators issued a joint statement to address the benefits of financial institutions entering into collaborative arrangements to help manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations more efficiently and effectively.

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Same Day ACH Rules Enhanced

The National Automated Clearing House Association (NACHA) has approved proposed rules to expand the capabilities of Same Day ACH.

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FASB Proposes Modifying Effective Date of CECL Standard

The Financial Accounting Standards Board (FASB) board has proposed modifying the effective date of its Current Expected Credit Losses (CECL) standard for non-public companies, giving credit unions an extra year to prepare for the new rules.

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