THE news

WASHINGTON—A number of federal departments and agencies, including NCUA, have issued a statement to address instances in which certain banks and credit unions may decide to enter into collaborative arrangements to share resources to manage their Bank Secrecy Act (BSA) and anti-money laundering (AML) obligations more efficiently and effectively. 

TACOMA, Wash.—The $1.5-billion Sound Credit Union has agreed to acquire the $200-million Bank of Washington, based in Lynwood, Wash.