Today the National Credit Union Administration joined the U.S. Department of the Treasury’s Financial Crimes Enforcement Network, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of Currency in issuing an advisory urging financial institutions to be vigilant against risks presented by the unlawful employment of illegal aliens in the United States.
The advisory, developed in coordination with the Internal Revenue Service, advises credit unions and banks to detect and report criminal activities involving the unlawful employment of illegal aliens. Such activities may depress wages, facilitate identity theft, give employers unfair advantages over legitimate U.S. businesses, and cause other harm to the financial system.
Credit unions and banks are advised to report suspicious activity and use enhanced due diligence. To learn more, please visit: https://www.fincen.gov/system/files/2026-06/FinCEN-Advisory-Non-Work-Authorized-Populations.pdf
This advisory supports Executive Order 14406, Restoring Integrity to America’s Financial System
The Defense Credit Union Council (DCUC) responded to the U.S. Department of the Treasury’s (Treasury) Financial Crimes Enforcement Network’s (FinCEN) Joint Advisory on Non-Work Authorized Populations and Their Employers and Risks to the Integrity of the U.S. Financial System:
“Credit unions have long served as trusted stewards of the financial system, balancing member service with a strong commitment to compliance and financial integrity,” said Anthony Hernandez, DCUC President/CEO, Ret. U.S. Air Force Colonel. “DCUC welcomes efforts to provide financial institutions with clear guidance and practical tools to identify suspicious activity, strengthen risk management practices, and support the collective effort to combat fraud and other illicit financial activity.”
Jason Stverak, DCUC Chief Advocacy Officer, adds, “We look forward to working with regulators and industry partners to ensure credit unions have the resources needed to effectively fulfill these responsibilities, while continuing to advocate for a risk-based, tailored approach that recognizes the unique challenges of smaller credit unions and avoids unnecessary regulatory burden.”