Members, borrowers, and depositors are no longer just ordinary, native-born consumers - if they ever were. Your credit union has corporations, limited liability companies (LLCs), partnerships (both general and limited), non-U.S. persons, and “money service businesses” (MSBs) among its membership. Compliance BSA/AML imposes a different requirement of due diligence when serving such “exotic” entities.
About the Speaker Franklin Drake has been a partner in the Raleigh, NC law firm of Smith, Debnam, Narron, Drake, Saintsing & Myers since 1994, following a 16 year practice specializing in creditor's rights, bankruptcy, and repossession law in Louisville, KY. There, he was senior vice-president of William Mapother's law firm.