The buck stops with you. Credit unions citing vendor-related hurdles to compliance have heard this from regulators for years. Yet, that sentiment may be changing. Read more


Small financial institutions have as much obligation to enact anti-money laundering (AML) programs as other financial institutions, though they face different challenges.

Cindy Williams, vice president of regulatory compliance at PolicyWorks, gives compliance tips and tricks for small credit unions Monday during a presentation at the CUNA/National Association of State Credit Union Supervisors Bank Secrecy Act (BSA) conference. Read more


Do you ever feel like compliance training is constantly on your mind? If you answered yes, you may actually be doing it wrong. Read more


Well, the dreaded “October 3” date has passed and we are all still here, our doors are open, and members are conducting business as usual as if nothing momentous such as, oh I don’t know, maybe a major shake-up in mortgage origination happened. Whew! Read more


Choosing the right Cloud provider might sound like the realm of IT, but it often falls upon the credit union compliance officer. Either way, compliance will be part of the process. What risks should your CU be considering before signing a cloud contract? Read on to find out. Read more


Fine-tooth comb compliance strategies are becoming more common across the credit union movement – and for good reason. Today’s regulatory environment accepts nothing less than great attention to detail from staff across all departments. Credit union marketers and branch managers, for instance, are challenged to ensure even their signage is up to regulatory snuff. Read more


The following checklist is designed to get you thinking about key issues to consider when developing your own website compliance checklist. Read more


Regulators add hundreds of credit unions to the ranks of the regulatory relieved, but the impact remains to be seen.
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PolicyWorks' parent company, Affiliates Management Company (AMC), has been selected as one of the top places to work in the state of Iowa for the second year in a row based on employee survey results. Read more


Remember that after October 3rd the Integrated Disclosure Rule (“TRID”) provides that the appraisal fee is subject to a zero tolerance threshold. Read more


A recent report by the Financial Action Task Force identified gold as an increasingly common method of money laundering and terrorist financing. Why? Because it is anonymous and easily exchangeable. Read more


Strategic compliance management systems will be critical to all FIs by 2020 insists one analyst, who says CUs must get moving now to establish the systems that will eventually be required by examiners. Read more


Effective October 3rd, property appraisals will generally be subject to a zero tolerance threshold under the Integrated Disclosure Rule (“TRID”). TRID provides that fees paid for a third-party settlement service for which the member is not permitted to shop fall into the zero tolerance category. What this means for your credit union is that the appraisal fee you disclose on the Loan Estimate must be exactly what the member is required to pay at closing, absent the occurrence of a valid changed circumstance. Read more


Credit unions extending credit secured by structures in special flood hazard areas better familiarize themselves with NCUA’s new flood insurance requirements. Read more


There has been a lot of buzz lately about the updates to the rules for the Telephone Consumer Protection Act (TCPA). The Act has been around since 1991, but it suddenly has new teeth, thanks to the FCC’s adoption of the new rules in June. And while the vote on the updates was passed by the FCC, it was a split 3-2 vote, showing that it wasn’t a slam dunk, even for them. Read more


You’ve received the findings of your recent audit, and of course the credit union’s compliance program is in good shape. Why wouldn’t it be? You’ve been working tirelessly over the last 12 months ensuring your team has sufficient training, detailed procedures, and the necessary resources to ensure compliance. However, almost every audit has at least one finding, and you’ve got a couple of minor issues to address. But, how do you ensure these items are resolved? Read more


Over the years, I have talked to financial institutions about their policies and often the compliance officer will proudly pull out a big binder filled with numerous policies. They proceed to tell me how the Board reviews and approves them each year, or as new regulatory requirements occur. And, that’s a very good start. Read more


On the surface, fair lending seems like a simple enough topic. The regulations defining fair lending are not new. There haven’t been any recent changes, nor are there any foreseeable ones coming down the pike. Yet, fair lending remains a big issue for nearly all financial institutions. Read more


In addition to delaying the effective date, the final rule makes clear that the CFPB will not be instituting a formal grace period or allowing for a dual compliance period. Without a formal grace period your credit union remains subject to both compliance and legal risk for non-compliance after October 3rd. Read more


Marketing and advertising can be a complicated maze for credit unions. Compliance requirements are so varied and nuanced that it's hard to meander one's way to the clearly marked exit. These eight best practices will help your CU navigate its way out of the complexity. Read more

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