President Obama yesterday named John Herrera to a vacant seat on the National Credit Union Administration board. Herrera is currently an executive at a community development financial institution. He previously served as a commissioner of the North Carolina Credit Union Commission and co-founder of a state-chartered Latino credit union. If confirmed, Herrera would take the seat vacated by Debbie Matz, who resigned as NCUA chairman in the spring.
Treasury official outlines principles for Bank Secrecy Act modernization
The Treasury Department is exploring ways to streamline the filing process for suspicious activity reports and currency transaction reports as part of a broader effort to modernize BSA enforcement, Deputy Secretary of the Treasury Michael Faulkender said.