Compliance

BSA compliance resources

December 15, 2009
Consult these resources for assistance with Bank Secrecy Act compliance: 2010 CUNA BSA Conference CUNA’s Bank Secrecy Act Compliance Guide CUNA’s e-Guide to Federal Laws and Regulations FFIEC BSA/AML Examination Manual Financial Crimes Enforcement Network Office of Foreign Assets Control SAR Activity Review: " By the Numbers " and " Trends,... READ MORE

Compliance Q&A: Serving Servicemembers

December 15, 2009
By Valerie Moss Q What must a servicemember do to receive the 6% interest rate required by the Servicemembers Civil Relief Act  (SCRA)?   A In order to apply for the 6% interest rate, the SCRA requires the servicemember to provide the credit union with a written notice and a... READ MORE

Compliance Q&A: Unlawful Internet Gambling Enforcement Act

November 30, 2009
By Valerie Moss Q How can a credit union comply with Unlawful Internet Gambling Enforcement Act regulations?   A For payment systems (other than card systems), credit unions that are covered by the regulations must have written policies and procedures in place that demonstrate they are performing risk-based due diligence... READ MORE

What's a 'Disability?'

November 23, 2009
Karen Saul New ADAAA provisions reinstate a broad scope of protections. In September 2009, the Equal Employment Opportunity Commission (EEOC) approved a notice of proposed rulemaking to conform its regulations to the Americans with Disabilities Act Amendments Act (ADAAA), which became effective Jan. 1, 2009. The notice proposes changes to... READ MORE

Prepare for Overdraft Protection Rules

November 23, 2009
Valerie Y. Moss CUNA opposes legislation that could adversely affect CUs’ overdraft programs. Many credit unions offer overdraft (“bounce”) protection or “courtesy pay” programs to help members resolve short-term financial problems. These programs, when members use them appropriately, serve as a valuable alternative to overdrawing their share accounts. They can... READ MORE

Tweeters nearly double

November 23, 2009
Tweeters Nearly Double One-fifth (19%) of Internet users now use Twitter or another service to post or view status updates, according to the Pew Internet & American Life Project. That’s up from 11% in December 2008 and April 2009. Three groups of Internet users are driving the growth of this... READ MORE

Anatomy of a 'Fix'

November 23, 2009
Daniel A. Mica How things get done in Washington—and who deserves the credit. This is a political story about how things get done in Washington—and who deserves the credit. It’s also a story about the Credit Union National Association (CUNA), the leagues, and credit unions—and how the credit union movement’s... READ MORE

Tackle the 500-Pound Gorilla That is Compliance

November 09, 2009
By Steve Gibbs Implementing and monitoring compliance programs can be a daunting task—a “500 pound gorilla,” if you will. Some of us have begun to recognize the “gorilla” and look it straight in the eye. However, as any trained animal handler will tell you, once you’ve looked a beast in... READ MORE

Compliance Q&A: Unauthorized EFTs

October 27, 2009
By Valerie Moss Q Does a credit union have to follow through on its investigation of an unauthorized electronic fund transfer (EFT) if the member withdraws the allegation?   A No. The credit union can discontinue its investigation if the member voluntarily withdraws the notice alleging an unauthorized EFT. The... READ MORE

CUs Dodge 'Warning' Bullet

October 23, 2009
Michael McLain The Fed limited a troublesome CARD Act provision to credit cards. Many credit unions have had difficulty complying with the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009. The requirement that a periodic statement be provided at least 21 days prior to a loan payment due... READ MORE

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Elder Justice Site Launched

Whether it has become more common due to our aging society, or it is simply more prevalent in the news, elder abuse is receiving more attention as of late.  The Department of Justice felt that this topic was deserving of additional resources, and thus created an Elder Justice website. The website contains resources for victims […]

Reminder! #NCUA Free Webinar

Sadly, summer is coming to a close. While the weather has been inconsistent these past few months I can tell that fall is coming as everyone’s schedule seems to get more hectic. With schedules filling up I thought a friendly webinar reminder would be helpful. Next Wednesday, September 17, 2014, NCUA is hosting a Merger […]

Risky business – #CFPB Credit Card promo warning

This week the CFPB is warning against the deceptive marketing of interest-rate promotions to consumers. The Bureau is concerned that consumers are being lured to apply for and open a card/account with introductory or promotional rate that are reduced or zero interest for specific purchases or balance transfers, and then consumers are being hit with […]
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