Compliance Blog: EO impact on CDFI Fund, BSA/AML updates, peer-to-peer payments fraud

March 18, 2025

Monitoring actions taken by the executive branch, non-actions taken by regulators, and how to protect against peer-to-peer (P2P) scams as all covered in the latest entries of America’s Credit Unions’ Compliance Blog.

“Executive Order Affects CDFI Fund” discusses the recent executive order limiting the function and personnel of the Community Development Financial Institution (CDFI) Fund to the minimum statutory functions required by law. The entry also looks at the statement by Treasury Secretary Scott Bessent and provides guidance to credit unions on what to expect with this Order and what is still unknown at this time.
“BSA/AML Updates – March 2025 Edition” describes the current state of the Financial Crimes Enforcement Network’s (FinCEN) anti-money laundering/counter-financing of terrorism (AML/CFT) proposed rule. With no action from the agency since the comment period’s close last September, the entry describes the potential effects on credit unions if the rule is enacted. The entry also updates readers on other actions that are currently being undertaken by FinCEN.
“Peer-to-Peer Payments: Monitoring for Fraud” outlines where states stand regarding P2P payments and the push to increase liability under Regulation E. The entry provides guidance on how best to protect credit unions and their members from an increased risk of P2P fraud.

The compliance team provides new blog entries every Tuesday and Thursday. Subscribe to receive email updates from the Compliance Blog.