(Reuters) - Banks and credit unions must have proper internal controls,
independent testing of anti-money laundering programs, a
program coordinator and a staff training program. A
cease-and-desist order could be issued if they fail to
establish and maintain a reasonably designed program or correct
a previous problem, regulators said.
The guidance was issued by the Office of the Comptroller of
the Currency, Federal Reserve, Federal Deposit Insurance
Corporation, Office of Thrift Supervision and the National
Credit Union Administration.
Read more at Reuters.com Government Filings News
independent testing of anti-money laundering programs, a
program coordinator and a staff training program. A
cease-and-desist order could be issued if they fail to
establish and maintain a reasonably designed program or correct
a previous problem, regulators said.
The guidance was issued by the Office of the Comptroller of
the Currency, Federal Reserve, Federal Deposit Insurance
Corporation, Office of Thrift Supervision and the National
Credit Union Administration.
Read more at Reuters.com Government Filings News
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