Skip to content

Are Federal Credit Unions automatically exempt?

Question: 
Are Federal Credit Unions automatically exempt?
Answer: 

Answer by Kathleen Blanchard: You will need to be more specific as to what they are exempt from.

Answer: 

Answer by Randy Carey: If they mean from currency transaction reporting, the answer would be yes. That is about the only thing I can think of.

Answer: 

Answer by John Burnett: I agree. They qualify automatically as "exempt persons" and their transactions in currency need not be reported.

First published on BankersOnline.com 12/17/12

First published on 12/17/2012

Filed under: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics