Conference Registration

Welcome Reception

Enjoy cocktails, light dining & networking with your conference peers from across the country, their guests and “The Ones In Red.“ Registered guests are welcome to attend.

CU Conferences is grateful for the support of its sponsor, PARC Street Partners, and would like to thank them for co-sponsoring the reception. 

Breakfast

Join us for a hearty breakfast. Registered guests are welcome to attend.

Opening Remarks

The Five Pillars of BSA – Basic Overview

The Five Pillars of the Bank Secrecy Act (BSA) form the foundation of anti-money laundering efforts in the U.S., beginning with its establishment in 1970 to combat financial crimes. A basic understanding—often called "BSA 101”, includes key elements like Customer Due Diligence (CDD), Suspicious Activity Reports (SARs), and Currency Transaction Reports (CTRs). Over the past decade, the BSA has evolved significantly, incorporating risk-based approaches and advanced technologies to address emerging threats, making it essential for financial institutions to stay current with regulatory changes and compliance expectations.

Networking and Refreshment Break

BSA Risk Assessments & Policy Needs

BSA risk assessments and policy development are essential components of a strong compliance 

program. Institutions must establish clear policy requirements that outline procedures for 

identifying, monitoring, and mitigating risks related to money laundering and financial crimes. An 

annual risk assessment is a key part of this process, helping organizations evaluate their exposure 

by reviewing factors such as member types, transaction patterns, and geographic risks. For example, a sample discussion might include identifying how many high-risk members—such as 

those involved in cash-intensive businesses or international transactions—are part of the 

institution’s portfolio. This information helps tailor policies and controls to address specific 

vulnerabilities effectively.

Alphabet Soup:  CIP/CDD/MSB/MRB

The regulatory environment for credit unions involves several key compliance areas, including the Customer Identification Program (CIP), Customer Due Diligence (CDD), Money Services Businesses (MSBs), and Marijuana-Related Businesses (MRBs). These frameworks are designed to help institutions meet anti-money laundering (AML) obligations under the Bank Secrecy Act. The National Credit Union Administration (NCUA) plays a central role in ensuring that credit unions implement and maintain effective policies for identifying and verifying members (CIP), understanding the nature of member relationships (CDD), and managing risks associated with high-risk entities like MSBs and MRBs. As more states legalize marijuana, credit unions face added complexity in serving MRBs due to the conflict between state and federal laws. The NCUA provides guidance to help credit unions navigate these challenges while maintaining compliance and protecting the integrity of the financial system

Group Luncheon

Join us for lunch. Registered guests are welcome to attend.

SAR’s and CTRS: Common Errors & Confidentiality

Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs) are essential 

components of a financial institution’s compliance program, but they often come with common 

errors and confidentiality concerns. When reporting SARs to the board, the presentation should be 

high-level, focusing on trends, volumes, and significant cases without revealing sensitive details. 

SAR narratives must be clear, concise, and include all relevant facts such as the who, what, when, 

where, why, and how of the suspicious activity to ensure law enforcement can understand the 

context. CTRs, which document large cash transactions, also require accuracy and consistency, 

and reviewing case studies can help institutions identify frequent mistakes and improve reporting 

practices.

OFAC & 314 (a) & (b)

Credit unions must navigate complex regulatory requirements under OFAC and Sections 314(a) and 314(b) of the USA PATRIOT Act, which govern how they communicate with regulators and other financial institutions. Section 314(a) allows federal agencies to request information from credit unions about individuals or entities suspected of terrorism or money laundering, requiring a prompt and thorough search of records. Section 314(b), on the other hand, permits voluntary information sharing between financial institutions to help identify and report suspicious activities, provided both parties are registered with FinCEN and follow strict confidentiality protocols. 

Despite these frameworks, many credit unions face fines due to lapses in compliance,

such as failing to conduct timely searches, improperly sharing information, or not maintaining

adequate internal controls. To mitigate these risks, credit unions must ensure they are not only responsive to regulatory requests but also cautious about how and when they share information with peers, maintaining a balance between collaboration and confidentiality.

The Day in Review

Breakfast

Join us for a hearty sit-down breakfast. Registered guests are welcome to attend.

Opening Remarks

BSA Jeopardy (Recap)

BSA Jeopardy is a fun and engaging way to review key concepts related to the Bank Secrecy Act, testing your knowledge in a game-show format. Participants are encouraged to recall important compliance topics, procedures, and regulations, all while remembering to phrase their responses in the form of a question—just like the classic game show. It’s a lighthearted yet effective method to reinforce learning and ensure everyone is up to speed on their BSA responsibilities.

Networking and Refreshment Break

2026 Examiner Focus & Director Financial Literacy
(For Non-BSA Officer Participants)

Session Highlights

• NCUA’s Priorities for 2025

• Will BSA once again make the top of the list?

BSA Officer Roundtable Discussion
(For BSA Officers)

The roundtable discussion is the perfect opportunity to connect with fellow BSA officers from across the country to share ideas and problem solve.

Conference Wrap-Up