Compliance

Four critical regulatory issues

June 24, 2009
Mary Dunn: Topping the regulatory agenda are regulatory restructuring, top-level changes at NCUA, examination issues, and corporate CU issues. CUNA Deputy Counsel Mary Dunn outlined four critical regulatory issues for credit unions during a morning breakout session Wednesday: 1. Regulatory restructuring. The proposed Consumer Financial Protection Agency is a “glass... READ MORE

Get a Grip on Compliance

June 17, 2009
LEAD STORY Say goodbye to compliance worries with tools from two CUNA strategic alliance providers. Compliance software from Verafin Inc., St. John’s, Newfoundland, helps you comply with the Bank Secrecy Act, USA PATRIOT Act, and Fair and Accurate Credit Transactions Act red flag rules. TraceSecurity Compliance Manager™ from TraceSecurity, Baton... READ MORE

Cramdowns: CUs Not Out of the Woods

June 17, 2009
A Supreme Court decision leaves an open question on unsecured second mortgages. Michael McLain It’s unlikely Congress will reconsider cramdown legislation in the short term, following its defeat in the Senate this spring. Before breathing a sigh of relief, you might want to read the rest of this article. The... READ MORE

Rebate Nets $13.5 million

June 17, 2009
LEAD STORY Despite a local economy mired in recession, American 1 Federal Credit Union’s recent loan rebate promotion showed there’s room for loan growth in Michigan. The $163 million asset, Jackson-based credit union offered a loan rebate in April that will give members who financed a closed-end, secured loan half... READ MORE

CU Grassroots Sprout Thick

June 17, 2009
Recent Hill actions prove the CU voice is heard in Washington. Mark Wolff Credit unions are known in Washington, D.C., for the power of their grassroots-based political involvement. A significant portion of the Credit Union National Association’s (CUNA) advocacy efforts go to grassroots cultivation. There’s the Hike the Hill program... READ MORE

Midyear Reflection

June 17, 2009
The first six months saw great challenges. More will come. Daniel A. Mica It has been said that time has no divisions to mark its passage. It’s just us humans who bang a drum, shoot off some fireworks, or declare a holiday to celebrate the moment. So, here’s a very... READ MORE

Compliance Q&A: ID Theft Red Flags

May 28, 2009
By Valerie Moss Q Are credit unions required to provide member education as a part of their identity theft red flag programs?   A No. The regulation calls for staff training as necessary to implement the program. Even though member education isn't mentioned as a required program element, it’s still... READ MORE

TV Ads In the DVR Age

May 20, 2009
LEAD STORY Have hundreds of cable channels and the popularity of digital video recorders (DVR) rendered credit union television advertising obsolete? Nathan Tothrow doesn’t think so. “A lot of folks say TV advertising is dead because of DVR. But there’s not enough data to make that assertion,” says the vice... READ MORE

Focus on the 'Open' In Open-End Lending

May 20, 2009
Review your practices, policies, and procedures to determine if you want to continue to use multifeatured open-end lending as a primary consumer lending strategy. READ MORE

He Did What? You're Fired!"

May 20, 2009
Karen Saul Pay close attention to the Supreme Court’s decision on retaliation. Title VII of the Civil Rights Act of 1964 forbids retaliation against employees reporting discrimination. The Supreme Court recently ruled that protection extends to employees who don’t initiate discrimination complaints but who divulge discrimination occurred when asked during... 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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