Compliance

Compliance Q&A: Counteroffer/Adverse Action Notice

October 01, 2014
Does a combined counteroffer/adverse action notice have to be followed up by another adverse action notice if the member doesn’t accept the counteroffer? READ MORE

FinCEN Releases Customer Due Diligence Proposal

October 01, 2014
The Financial Crimes Enforcement Network (FinCEN) published its long-awaited customer due diligence (CDD) proposal in August. READ MORE

What CUs Need to Know About U.S. Sanctions on Russia

October 01, 2014
In July, the U.S. Treasury Department imposed a broad-based package of economic sanctions on entities in the financial services, energy, and arms or related sectors of Russia. READ MORE

Are You Prepared for Your Next IT Security Exam?

October 01, 2014
NCUA’s AIRES baseline scope and information technology (IT) questionnaires provide instructions for examiners to identify and assess potential IT security risks and cyber threats. READ MORE

CFPB Issues New HMDA Reporting Proposal

October 01, 2014
The agency seeks to expand information requirements and revise the reporting threshold. READ MORE

Four Stages of a Compliance Audit

September 22, 2014
Customize your audit program based on your CU’s assets, products, and delivery methods. READ MORE

Audit for Compliance

September 02, 2014
A robust internal compliance audit program limits exposure to regulatory entanglements or costly litigation. READ MORE

Compliance Q&A: Regulation E

September 01, 2014
Does Regulation E require any specific wording to appear on a change-in-terms notice? READ MORE

Federal Agencies Launch Cybersecurity Web Page

September 01, 2014
FFIEC aims to heighten awareness of the need to identify, assess, and mitigate these risks. READ MORE

CFPB Clarifies Successors-in-Interest Rule

September 01, 2014
Heir's name generally may be added to deceased's mortgage without triggering ATR rule. 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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