Compliance: FinCEN issues sole proprietorship, legal entity ruling

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FinCEN issued a ruling last week to clarify CTR Form 112 filing obligations when reporting transactions involving sole proprietorships. A recent CUNA CompBlog entry details exactly what the ruling means for credit unions.

https://news.cuna.org/articles/117247-compliance-fincen-issues-sole-proprietorship-legal-entity-ruling

CECL policy statement, corporate CU proposal on NCUA’s Feb. 23 agenda

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The NCUA board will discuss a final interagency policy statement on the current expected credit loss (CECL) standard and propose a rule on corporate credit unions at its Feb. 20 meeting. The meeting will take place at 10 a.m. (ET).

https://news.cuna.org/articles/117240-cecl-policy-statement-corporate-cu-proposal-on-ncuas-feb-23-agenda