Comment from GECU Federal Credit Union
GECU Federal Credit UnionSupportBusiness
Summary: GECU Federal Credit Union supports the NCUA's proposed rule to modernize AML/CFT programs by adopting a risk-based framework that focuses on program effectiveness rather than just procedural compliance. The commenter requests additional guidance and clarity on specific definitions of "significant" failures, the consultation process with FinCEN, and the notification procedures for supervisory actions.
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