Compliance

Manage the Risks of Remote Deposit Capture

August 25, 2009
Valerie Moss The focus today is on extending RDC to consumers. Remote deposit capture (RDC) refers to a range of services that allow users to scan checks/share drafts at remote locations and transmit the scanned images to financial institutions for posting and clearing. Locations may include the credit union’s branches... READ MORE

Corporate Stabilization Revisited

August 25, 2009
Jim Jerving New legislation ‘eases the pain’ and boosts CU ROA. Turbulence within the corporate credit union system and the effects on retail credit unions were dominant topics at the Credit Union National Association’s (CUNA) Governmental Affairs Conference (GAC) earlier this year. In May, passage of S. 896, the Helping... READ MORE

Staying at the Table

August 25, 2009
John Magill Poorly prepared legislation can have unintended consequences. This is a time of unprecedented change in America’s financial services sector. Credit unions, despite wearing the “white hats” through the financial crisis of the past year, have not been—and will not be—completely insulated from the aftermath of the financial collapse.... READ MORE

Regulatory Onslaught Just Won't Let Up

July 20, 2009
Relentless torrent of new regulations creates concern and confusion. Bill Klewin The surge in regulatory compliance issues continues, especially in the lending area. Given what the nation is going through, triggered by shoddy lending practices, the greater regulatory regimen is appropriate. Regulators and legislators in Washington, D.C., however, are tripping... READ MORE

Regulatory Storm Intensifies

July 20, 2009
  Key concerns will continue to dominate the regulatory landscape. Mary Dunn Working in the Credit Union National Association’s (CUNA) Washington office lately has been like being in the vortex of a hurricane. The issues keep swirling as the regulatory storm intensifies. While CUNA follows virtually all issues affecting credit... READ MORE

Negotiate Letters of Understanding and Agreement

July 20, 2009
Due diligence applies to agreements with regulators, too. Christopher Pippett Typically you might think of due diligence review as applying only to vendor relationships. However, you also should thoroughly analyze the formal agreements you might have to enter into with the National Credit Union Administration (NCUA) or your state regulator... READ MORE

Study Cites Top CU Challenges

July 20, 2009
LEAD STORY  Attracting new members, dealing with the economy, retaining current members, and adapting programs to new technology are the biggest challenges facing credit unions. So says a survey conducted by Credit Union 24, Tallahassee, Fla. It examines successes and competitive challenges credit unions currently face. The top challenges credit... READ MORE

Business Lending Cap Becomes Barrier to Growth

July 20, 2009
ALM, business cycles, and the 12.25% cap affect business loan programs. Jim Jerving The recession’s effects on the banking system are well-chronicled—a stranglehold on the credit supply and dangerously low capital levels for some of the nation’s largest banks. The trickle-down effect has frozen credit at smaller, local banks that... READ MORE

Compliance is Recession-Proof

July 20, 2009
By Kathy Thompson I was just reading an article about how cosmetics and alcohol sales increase during trying times. Apparently, increased demands on compliance programs can be another “leading economic indicator” that there are problems out there. I want to assure you that we’re working behind the scenes to try... READ MORE

Compliance Q&A: Trade Names in Advertising

July 20, 2009
By Valerie Moss Q Can a federal credit union use a trade name in advertising? For example, could it use “ABC Community” rather than its full charter name, “ABC Community Federal Credit Union?”         A Yes. Part 740.2 of the National Credit Union Administration’s regulations states that... READ MORE
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The Works Blog The Works Blog is produced by PolicyWorks LLC, Des Moines, Iowa.

#EMV Liability Shift Deadline Less Than a Year Away

Apple Pay. Tokenization. NFC. Biometrics. There are so many buzzwords being talked about in the payments arena that it can be difficult to keep up.  Combine that with the fact that there seems to be a new data breach every week, and your head will be spinning.  While these new technologies are all exciting and […]

Introducing New PolicyWorks Team Members

Hello everyone!  As the two newest members to the PolicyWorks team Zac Pollock and I, Melinda Peterson, would like to introduce ourselves. As a Compliance Specialist, I am responsible for assisting credit unions with their compliance needs as well as being a resource for reviewing marketing materials and websites for compliance with federal regulations.  I […]

Risk- Based Capital Rule 2.0

The NCUA has announced that it will be issuing a revised proposed risk-based capital rule.  The proposed rule will also allow for a new comment period. This is great news for credit unions. The original risk-based capital rule may have been one of the most significant proposed rules facing credit unions in recent times.  And the feedback […]
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