Compliance

Understand Payroll Card Rules

November 19, 2013
Employees are entitled to the protections of the Electronic Fund Transfers Act (EFTA), and Regulation E’s provisions applicable to payroll cards. READ MORE

Creating Awareness Among Regulators

November 12, 2013
Credit unions, owned by their members, are responsible for reporting to them, not the marketplace. READ MORE

Mortgage Servicing: What’s in Store?

November 01, 2013
As required by the Dodd-Frank Act, the CFPB will require periodic statements for most closed-end mortgages—not just open-end loans. READ MORE

Compliance Q&A: Remittances and Members' Foreign Purchases

November 01, 2013
Is the credit union considered a “remittance transfer provider” when a member uses his debit card to purchase goods from a merchant located in another country? READ MORE

On-Demand Training for New Supervisory Committee Members

November 01, 2013
NCUA training videos give supervisory committee members at small and low-income credit unions a better understanding of their roles and responsibilities. READ MORE

CFPB Bulletin Highlights Furnisher Responsibilities

November 01, 2013
Furnishers of information to credit bureaus are responsible for investigating consumer disputes forwarded by the consumer reporting agencies. READ MORE

Matz: NCUA Resources to Go Where Risks Are

October 31, 2013
Video interview with the NCUA chairman addresses stress testing, corporate assessments, and more. READ MORE

Top Five Mortgage Compliance Issues to Address Now

October 23, 2013
CFPB’s new mortgage rules are a major pain point for CUs. READ MORE

Compliance Q&A: Regulation E Remittance Transfer Rule

October 20, 2013
Does the rule apply to prepaid cards purchased at a CU and sent to someone in a foreign country? READ MORE

FinCEN Reports a Decline in Mortgage Fraud SAR Filings

October 14, 2013
SAR filings grew every year between 2001 and 2011. READ MORE

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

#VISA #MasterCard Zero Liability Changes

As of October 17, 2014 both VISA and MasterCard will be changing their zero liability policies.  Although they have the same effective date, there are a few key differences to the policy changes: MasterCard Zero liability policy will be expanded to include PIN-based POS and ATM transactions (currently these transactions do not qualify for zero […]

#FinCEN smuggling & trafficking guidance

Detecting and reporting suspicious transactions is essential in the financial industry. FinCEN issued an advisory last week to help financial institutions identify “red flags” to assist with the identification and reporting of suspicious financial activities connected with human smuggling and trafficking. Detecting and reporting: Important observations when interacting with members and throughout the credit unions […]

SCRA: An Acronym You Need to Know

In May, the United States Department of Justice announced a $60 million settlement with student loan servicer Sallie Mae for alleged violations of the Servicemembers Civil Relief Act (SCRA). As a result, the once seemingly forgotten 4th fair lending law now resumes its rightful place center stage. If it’s been awhile since your credit union’s […]
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