Bsa updates

The changes included more money from organizations that supported Scouting activities called chartering organizations in exchange for legal protections against abuse claims. Her ruling was to move the survivor voting deadline to December 28th, Additionally, the Judge also pushed the confirmation hearing to February 22nd, , saying there are too many depositions to take and too many legal issues to sort out to start the hearing in January.

As we stated in prior updates, Judge Silverstein will determine based on the voting results whether enough survivors are in support of the plan. The new section encourages credit unions to consider if they can manage and mitigate the risks posed by each customer relationship, rather than categorically avoiding entire groups of customers.

The manual also states that no particular group or type of customer automatically requires additional customer identification requirements or customer due diligence CDD steps. Instead, whether certain customers should be subject to those additional steps will depend on the risk posed by the customer, determined based on gathering information and creating a customer risk profile.

Delivered to the inboxes of thousands of credit union leaders daily. The updates to three previously existing sections of the Manual are twofold. First, the update broadens the objectives of these sections and adds additional detail to the subsections discussing risk factors and risk mitigation, both of which were included in the prior iterations of these sections. Second, the update adds two entirely new subsections outlining the examiner evaluation process. These new subsections regarding the examiner evaluation process, which are outlined below, are nearly identical across all three section updates.

Each updated section also includes a subsection addressing Examination and Testing Procedures.