Compliance

Look for Opportunities Behind Corporate Banter

March 30, 2009
Pam Finch NCUA’s corporate CU proposal liberates movement leaders to talk structure. When news of the National Credit Union Administration’s (NCUA) corporate stabilization plan broke, you almost could see the smoke rising from the network server housing the CUNA CFO Council e-mail list activity. The opinions and emotions of the... READ MORE

CUs Need Conflict of Interest Policies, Disclosures

March 30, 2009
Kathleen Thompson Take note of IRS Form 990’s new Part VI on nonprofit governance. A new Internal Revenue Service (IRS) requirement has focused attention on credit unions’ need for conflict of interest policies and annual disclosure processes for board members and senior staff to report possible conflicts. Review a sample... READ MORE

'We'll Get Through This Together'

March 27, 2009

CUNA President/CEO Dan Mica to GAC attendees: 'Our work as your trade association is focused on finding other alternatives...and mitigating the cost to CUs.'

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New Card Rules Spark Review

February 20, 2009
Michael McLain NCUA changes prohibit certain credit card practices for FCUs. The National Credit Union Administration (NCUA), Office of Thrift Supervision, and Federal Reserve Board issued final rules in December 2008 to better protect credit card users. The rules prohibit certain unfair and deceptive acts or practices, and improve consumer... READ MORE

Steer Members From Fuelish Loans

February 20, 2009
LEAD STORY When gasoline prices surpassed $4 per gallon last summer, siphoning consumers’ discretionary income, some members of Holy Rosary Credit Union, Rochester, N.H., faced the prospect of borrowing money to pay home heating expenses when winter came. That didn’t sit well with Brian Hughes, president/CEO of the $135 million... READ MORE

Compliance Q&A: Electronic Disclosures

February 20, 2009
By Valerie Moss Q True or false: Credit unions must maintain electronic disclosures on their home banking Web sites for at least 90 days.   A False . The Federal Reserve Board eliminated this requirement because industry practice is to retain the information for much longer. The Fed also eliminated... READ MORE

Lender Liability Lawsuits on the Rise

February 20, 2009
By John Wallace Have you recently repossessed or foreclosed on any collateral? Have your delinquencies increased during the past 12 to 18 months? If so, these are signs your lender liability exposure has increased. Given today’s increasing foreclosures, repossessions and collections, lender liability lawsuits likely will continue to rise. In... READ MORE

Changing Course

February 18, 2009
David Klavitter The approach to advancing the CU legislative agenda may never be the same. Last November's election gave Democrats control of the White House and widened the party’s margins in both chambers of Congress. This alone is enough to alter the direction and tempo of Washington, D.C. But in... READ MORE

Top 10 Compliance Hotspots

February 18, 2009
CUNA’s Compliance Attorneys In addressing risks in 2009, review your CU’s compliance management structure. Compliance permeates every aspect of credit union operations: lending, collections, account opening and closing, marketing, investments, vendor relationships, employment, accounting, and governance. The list goes on. Some new and some never-ending compliance requirements are on the... READ MORE

Jump-Start SEG Business

January 23, 2009
LEAD STORY Community-chartered credit unions can benefit from select employee group (SEG) relationships as much as other credit unions. They just need to differentiate themselves from competitors and position themselves as a SEG benefit, says Ginger Salt, senior vice president of markets for $1.2 billion asset Truliant Federal Credit Union,... READ MORE

The Works Blog The Works Blog is produced by PolicyWorks LLC, Des Moines, Iowa.

Credit Cards

The CARD Act seems like it was issued so long ago, given all the regulatory changes we have had since then. And, given the time that has passed, you would think we would have the Act all figured out. Well, it seems there is still some confusion about what happens when you change the member’s […]

Join us @ #CUNA Regulatory Compliance School

Are you attending CUNA’s Regulatory Compliance School in Chicago next month? PolicyWorks has teamed up with CUNA to provide a seminar before and after Regulatory Compliance School (RCS) this September. Prior to the start of the school take a dive into marketing compliance and get hands-on experience applying marketing regulations to advertisements. Through this seminar you will: Gain […]

Comment on #CFPB HMDA Proposal

Recent regulatory activity has kept the industry writing comment letters in droves, but now is no time to stop writing letters! The CFPB recently proposed a rule updating the reporting requirements of the Home Mortgage Disclosure Act (HMDA). Significant provisions in the proposal include; an adjustment to the covered entities that must report HMDA data, […]
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