FinCEN Gobbles Up Florida Credit Union

FinCEN has assessed a civil money penalty of $300,000 against North Dade Community Development Federal Credit Union for serious violations of the Bank Secrecy Act. Among the offenses were admittedly willful violations of section 314(a) of the USA PATRIOT Act and record retention requirements, and significant deficiencies in general BSA program requirements. [11/26/14]