Morning Scan: Credit Unions Probed for AML Weakness; Three Banks Rej...

Wall Street Journal

Regulators are looking at credit unions, and regional banks to a lesser extent, as the weak link in the money laundering fight. With regulatory scrutiny pushing big banks out of the business of handling transactions for money-services businesses, such as check-cashers, those businesses are now turning to credit unions. And many of those credit unions are small institutions without the sophisticated technology and processes needed to weed out money-launderers. Drug dealers and other...