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


In the past, fair lending and redlining were terms you only heard about when mortgage lending was discussed. Financial institutions simply needed to gather the required information for the Home Mortgage Disclosure Act (HMDA) and put controls in place to ensure they did not discriminate when approving or declining loans. Those were the simple days. Read more


Use regulatory “down time” to check in on long-term compliance strategies Read more


On June 17th the Consumer Financial Protection Bureau (“CFPB”) announced they would be issuing a proposed rule to delay the effective date of the TILA/RESPA Integrated Disclosure Rule (“TRID”). Yesterday we got our first look at that rule. Read more


NCUA has started to make in-roads regarding regulatory relief in a surprising way. At their recent board meeting, NCUA announced a proposed rule to ease regulatory restrictions impacting member business loans (MBL).
Read more


Behind the pixie-dust and over-the-top “imagineering” of Disney, there are some rock-solid business principles at work that keep the corporate mouse enterprise running smoothly. So, are there things to be learned about the Disney way of doing business that we can apply to a regulatory compliance program? The answer is a resounding yes! Read more


There’s no time like the present to review your credit union’s overdraft program and ensure it is not only compliant with existing regulations but that members are fully informed about the terms of the program. Read more


The separate training requirements imposed by the state-level SAFE Act (Regulation H) and the Truth in Lending Act (Regulation Z) continue to cause confusion in the industry. This article sets out to unlock the mystery by answering the who, what and when of loan originator training. Read more


Although Houston Police FCU was not implicated in any wrongdoing, compliance and regulatory experts said this case can provide important lessons for credit unions on suspicious account transactions and how to address their challenges. Read more


According to PolicyWorks' VP of Regulatory Compliance Cindy Williams, we are in the "in between" time when it comes to regulations -- many having been implemented late last year and more coming down the tracks later in 2015. Cindy says now is a good time for credit unions to get caught up and get their ducks in a row to prep for the next regulation wave to ensure their compliancy. Read more


Once, when I was conducting BSA training for front-line staff regarding suspicious activity, I gave them an example of a retired gentleman at the credit union that several times a week made multiple cash deposits of several thousand dollars. I explained that this was unusual behavior that might require some additional due diligence, perhaps ultimately resulting in the filing of a Suspicious Activity Report. Read more


The Tennessee Credit Union League has partnered with Des Moines, Iowa-based compliance firm PolicyWorks to help the Volunteer State’s credit unions better cope with the growing complexity and frequency of financial industry regulations. Read more


It's never been more important to have a regulatory compliance network. Read more


To kick off National Credit Union Youth Month (April 1-30, 2015), I thought it would be appropriate to start a conversation regarding youth savings programs. Read more


One of the most important pieces of an effective compliance program is the audit function. Audits may help to identify individual compliance concerns or general gaps in a credit union’s program. However, the work is not done just because the audit is complete. Read more


Proposed rules have been issued fast and furious over the last few years. Given the volume of final rules, credit unions often do not have the time or resources to delve into the details of a proposed rule and submit comments to the regulator. If your credit union is struggling to prioritize which proposals to review, consider moving NCUA’s risk-based capital proposal to the top of your list, as a risk-based capital requirement may impact your credit union’s long-term strategic growth plan. Read more


To help lighten the regulatory burden facing CUs in their states, the Ohio Credit Union League and the California and Nevada Credit Union Leagues recently purchased minority equity stakes in PolicyWorks. Read more

PREV 1 2 3 4 5 6 7 8 NEXT