Compliance

Work Continues On Stabilization Program

March 30, 2009
Mary Dunn The final costs to CUs are unknown at this time. Most agree the National Credit Union Administration (NCUA) Board needed to act in January to assist the corporate credit unions and that it had few options. Concerned about capital and liquidity in these institutions that also might affect... READ MORE

Look for Opportunities Behind Corporate Banter

March 30, 2009
Pam Finch NCUA’s corporate CU proposal liberates movement leaders to talk structure. When news of the National Credit Union Administration’s (NCUA) corporate stabilization plan broke, you almost could see the smoke rising from the network server housing the CUNA CFO Council e-mail list activity. The opinions and emotions of the... READ MORE

CUs Need Conflict of Interest Policies, Disclosures

March 30, 2009
Kathleen Thompson Take note of IRS Form 990’s new Part VI on nonprofit governance. A new Internal Revenue Service (IRS) requirement has focused attention on credit unions’ need for conflict of interest policies and annual disclosure processes for board members and senior staff to report possible conflicts. Review a sample... READ MORE

'We'll Get Through This Together'

March 27, 2009

CUNA President/CEO Dan Mica to GAC attendees: 'Our work as your trade association is focused on finding other alternatives...and mitigating the cost to CUs.'

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New Card Rules Spark Review

February 20, 2009
Michael McLain NCUA changes prohibit certain credit card practices for FCUs. The National Credit Union Administration (NCUA), Office of Thrift Supervision, and Federal Reserve Board issued final rules in December 2008 to better protect credit card users. The rules prohibit certain unfair and deceptive acts or practices, and improve consumer... READ MORE

Steer Members From Fuelish Loans

February 20, 2009
LEAD STORY When gasoline prices surpassed $4 per gallon last summer, siphoning consumers’ discretionary income, some members of Holy Rosary Credit Union, Rochester, N.H., faced the prospect of borrowing money to pay home heating expenses when winter came. That didn’t sit well with Brian Hughes, president/CEO of the $135 million... READ MORE

Compliance Q&A: Electronic Disclosures

February 20, 2009
By Valerie Moss Q True or false: Credit unions must maintain electronic disclosures on their home banking Web sites for at least 90 days.   A False . The Federal Reserve Board eliminated this requirement because industry practice is to retain the information for much longer. The Fed also eliminated... READ MORE

Lender Liability Lawsuits on the Rise

February 20, 2009
By John Wallace Have you recently repossessed or foreclosed on any collateral? Have your delinquencies increased during the past 12 to 18 months? If so, these are signs your lender liability exposure has increased. Given today’s increasing foreclosures, repossessions and collections, lender liability lawsuits likely will continue to rise. In... READ MORE

Changing Course

February 18, 2009
David Klavitter The approach to advancing the CU legislative agenda may never be the same. Last November's election gave Democrats control of the White House and widened the party’s margins in both chambers of Congress. This alone is enough to alter the direction and tempo of Washington, D.C. But in... READ MORE

Top 10 Compliance Hotspots

February 18, 2009
CUNA’s Compliance Attorneys In addressing risks in 2009, review your CU’s compliance management structure. Compliance permeates every aspect of credit union operations: lending, collections, account opening and closing, marketing, investments, vendor relationships, employment, accounting, and governance. The list goes on. Some new and some never-ending compliance requirements are on the... READ MORE
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October 2014

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

#CFPB Issues Final Privacy Rule

The CFPB’s final rule regarding the annual privacy notice was published in the Federal Register and is effective as of October 28, 2014. The final rule amends §1016.9(c) of Regulation P and provides an alternative method for delivering annual privacy notices. The rule is intended to allow credit unions to post their annual privacy notices […]

#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 […]
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