2017 Compliance: Key Developments & Issues - Permian Chapter

Cornerstone Credit Union League is partnering with the Permian Chapter to bring you “Compliance: Key Developments & Issues Seminar” in Odessa, Texas November 15, 2017!

Customer Due Diligence: Are You Prepared?

  • New Customer Due Diligence requirements for all Bank Secrecy Act/Anti-Money Laundering Programs, effective May 2018, including:
    • Requirements to know all members and develop a customer risk profile for each member.
    • Requirements to conduct ongoing monitoring of member transactions and update member information.
    • Requirements to Identify and verify beneficial owners of legal entities.
    • Refresher of current Customer Identification Program Requirements and how they
  • The Telephone Consumer Protection Act (“TCPA”) as it applies to credit union operations and the significant liability exposure for non-compliance:
    • When is it okay to call or text a member’s cell phone or residential line to service the account or to provide marketing messages?
    • What kind of consent is required to call or text a cell phone or residential line for marketing purposes?
    • What are the restrictions on using autodialers and prerecorded or artificial voice calls and what kind of equipment qualifies as an autodialer?
    • What are the differences between “prior express consent” and “prior express written consent” and what rights do consumers have to revoke that consent?
    • What kinds of protections should the credit union build into its member agreements to protect the credit union from TCPA liability?
  • Military Lending Act. A primer of the Military Lending Act (“MLA”) regulations that took effect in August 2016 and greatly expanded the reach of the Military Lending Act to virtually all types of consumer lending. We will also discuss the upcoming MLA regulations affecting credit cards:
    • Who is a covered borrower under the regulations and the safe harbor methods for identifying covered borrowers.
    • Computing the Military APR (“MAPR”) for open-end and closed-end loans and what kinds of charges are included in the MAPR vs. Regulation Z finance charges.
    • The Bona Fide Fees exception for credit cards.
    • Other limitations on terms of credit offered to covered borrowers.
    • Mandatory oral and written disclosures for MLA loans.
    • The 2016 Department of Defense interpretations of the MLA regulations and the clarifications and relief they provided to credit unions.
    • Penalties and consumer remedies for MLA violations.
  • Unfair, Deceptive, or Abusive Acts or Practices (UDAAP) and the CFPB’s Navy FCU Consent Order. An overview of UDAAP and a discussion of UDAAP enforcement actions relevant to credit unions:
    • UDAAP analysis and the CFPB’s role.
    • Discussion of UDAAP enforcement actions in the financial services industry.
    • The CFPB’s 2016 Consent Order against Navy FCU and its effects on credit union collection practices.
    • Requirements to suspend access to electronic services in the event of a delinquency and duty to provide adequate notice of an impending freeze on services.
  • United States Department of Labor Fiduciary Duty Rule. Discussion of the rule and its implications for credit unions:
    • Temporary delay of the April 10, 2017, compliance date and uncertainly of implementation under President Trump.
    • When a credit union is considered to be a fiduciary under the rule.
    • What kinds of actions may be considered investment advice.
    • What kinds of communications are not considered investment advice under the rule.
    • The Best Interest Contract Exemption.
  • Powers of Attorney. A primer on powers of attorney and operational tips:
    • The different kinds of powers of attorney and what to look for when reviewing.
    • The scope of powers of attorney and rules of construction.
    • Durable powers of attorney and why they are critical.
    • Statutory durable powers of attorney under Texas law.
    • Military powers of attorney and other special power of attorney situations affecting credit unions.

Take Away

Participants will gain a strong understanding of the upcoming customer due diligence requirements, the Telephone Consumer Protection Act, the Military Lending Act, and developing compliance issues.

Who Should Attend?

Compliance officers, compliance staff, Training and all branch managers and personnel, anyone in the credit union responsible for staying current on compliance issues.

Date & Location

Midland/Odessa, November 15

Complex Community CU Training Center
4519 E. 51st Street
Odessa, TX 79762

Business casual dress is appropriate. Bring a jacket or sweater as room temperatures vary.


8:30 a.m. - 9:00 a.m. Registration & Continental Breakfast
9:00 a.m. - 12:00 p.m. Seminar
12:00 p.m. - 1:00 p.m. Lunch (provided)
1:00 p.m. - 4:00 p.m. Seminar

*includes 2 refreshment breaks

Presenter - Mark Kazemba

Mark KazembaMark Kazemba is a partner at the law firm of Blalack & Williams, P.C., Dallas, Texas, and concentrates his practice on consumer financial services regulatory compliance issues. Prior to joining the firm, Mark served as in-house compliance counsel at a one billion-dollar credit union. Mr. Kazemba advises credit unions and other financial institution clients and vendors on complying with the myriad laws and regulations affecting deposit and loan operations, including: The Bank Secrecy Act, the Gramm-Leach-Bliley Act’s privacy and information security requirements, the Fair Credit Reporting Act, the Equal Credit Opportunity Act, the Electronic Funds Transfer Act, the Truth in Savings Act, and the Truth in Lending Act, with particular emphasis in the areas of deposit operations and electronic banking, credit card and open-end loan lending, and indirect lending.  Mr. Kazemba is a member of the American Bar Association’s Credit Union Committee of the Business Law Section, the Texas Association of Bank Counsel, and the Conference on Consumer Finance Law.  He has also served as President of the Financial Institutions Legal Counsel Network (Dallas, TX) and as Membership Chairman for the American Bar Association’s Credit Union Committee.  Mark has provided seminar instruction for the National Credit Union Administration, the Texas Credit Union Department, and the Cornerstone Credit Union League. He holds a B.A. in economics from Rhodes College, Memphis, TN and a J.D. from the University of Mississippi School of Law, Oxford, MS.

Continuing Education Units

Requests for certificates of attendance are processed after the event. Contact Janine McBee, CUDE, Sr. Training Director at 800-442-5762 ext. 6634 or email jmcbee@cornerstoneleague.coop for additional information or questions.

Educational Investment

Fee Per Person

League Members in Permian Area Only
Regular Rate - $250

Walk-ins accomodated on a space available basis. Your investment includes instruction, extensive handouts, continental breakfast, lunch, and two (2) refreshment breaks.

Registrant Cancellation Policy

Substitutions are always welcome. Registration fee refunds (less a $50 processing fee per person) are granted for cancellations received in writing two weeks prior to the seminar.

Seminar Cancellation Policy

Locations with less than 20 registrants three weeks out may be cancelled. In event of cancellation, all registrants will be notified.

Grant Assistance

The Cornerstone Credit Union Foundation is accepting grant applications for League training events based on financial need. Applications must be received by application deadlines. Please visit the Foundation’s website to view all grant applications, guidelines and deadlines. Contact Emily Moreno, Foundation Grants Manager, at 469-385-6483 for more information.


Call 800-442-5762 ext. 6635 or 469-385-6635 or email training@cornerstoneleague.coop.

If you have physical, medical, or dietary needs requiring special attention, please contact us for proper arrangements to be made. For more information regarding administrative policies, such as complaint or refund, please contact us at 800-442-5762 ext. 6630.