FinCEN on Info-Sharing; NCUA Releases 3Q Performance Results

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Yesterday, Financial Crimes Enforcement Network (FinCEN) Director Kenneth Blanco discussed how information sharing is critical to identifying, reporting, and preventing financial crime.

In his remarks to the annual American Bankers Association/American Bar Association Financial Crimes Enforcement Conference, Blanco provided important clarification on FinCEN’s information sharing program under Section 314(b) of the USA PATRIOT Act.

He also announced that FinCEN is issuing a new 314(b) Fact Sheet and rescinding previously issued guidance (FIN-2009-G002), as well as a former administrative ruling (FIN-2012-R006) — parts of which are incorporated into the guidance in the new 314(b) Fact Sheet.

Q3 2020 CU System Performance Data Now Available
The National Credit Union Administration (NCUA) has released data on the financial performance of federally insured credit unions for the quarter ending Sept. 30, 2020.

The NCUA’s Quarterly Data Summary Reports include an overview of the quarterly Call Report data as well as tables showing the recent history of major credit union performance indicators.

Additional Resources
The NCUA also makes extensive credit union system performance data available in the Credit Union Analysis section of NCUA.gov. The analysis section includes quarterly data summaries as well as detailed financial information, a graphics package illustrating financial trends in federally insured credit unions, and a spreadsheet listing all federally insured credit unions as of Sept. 30, 2020, including key metrics.

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