North Dade Community Development Federal Credit Union, a $5.8 million in Florida, has received a cease-and-desist order from the NCUA. The order, which is posted on the NCUA’s website, lists 11 action items saying the credit union violated Bank Secrecy Act regulations.
The order also includes action items connected with foreign assets control laws and anti-money laundering. The NCUA is also requiring that the credit union verify all its members are within its field of membership. Click here to learn more.