News & Analysis as of

Final Rules FinCEN Credit Unions

Orrick, Herrington & Sutcliffe LLP

Agencies allow banks to access tax ID numbers from third parties

On June 27, the OCC, FDIC and NCUA, with the concurrence of FinCEN, granted an exemption allowing banks to use a third party source to obtain customer tax identification numbers (TIN) for customers before opening an account....more

White and Williams LLP

FinCEN Issues Final Rule Establishing Beneficial Ownership Reporting Requirements Under CTA

White and Williams LLP on

On September 29, 2022, the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) issued a final rule (the Final Rule) establishing beneficial ownership information reporting requirements for non-exempt business...more

Harris Beach Murtha PLLC

Beneficial Ownership Information Final Rule Affects Banks and Credit Unions

Harris Beach Murtha PLLC on

On September 29, 2022, the Financial Crimes Enforcement Network (FinCEN) issued the first of three final rules implementing the Corporate Transparency Act’s beneficial ownership information (BOI) requirements. The aim of the...more

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