World Council Addresses De-Risking of MSBs

The World Council of Credit Unions is speaking out in support of the actions under consideration by the Financial Action Task Force (FATF), which forms the basis for most FFIEC AML guidance,  to address financial institution customer “de-risking.”  Credit unions have reported that they face pressure from examiners not to open accounts for MSBs and that it is becoming increasingly difficult for credit unions to open and maintain bank accounts. [4/2/15]