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New CDD Regulations Affect Many Areas of Your CU, Including BSA
Friday, July 22, 2016 6:25 AM

Mark Your Calendar for Compliance Alert Seminars, New BSA Regulations

New customer due diligence (CDD) regulations were effective July 11, 2016, and credit unions must comply by May 11, 2018. These regulations affect many areas of the credit union especially new member account opening processes. If you are a small or large institution you must comply with these new rules.

There are four elements to the new CDD regulation that affect legal entity and three elements that affect consumer accounts. It is estimated that it may take a year or more to determine many aspects of the regulation, but it's clear it's going to be an integrated process. Credit unions will want to understand how the regulation is interconnected with your BSA program, new member process, and ultimately in tracking member activity based on the risk-rating questions.

Who Should Attend? Membership service representatives, deceased accounts representatives, share operations, compliance officers, BSA officers, training staff, and all branch managers and personnel.

Houston, Oct. 3
Early Bird Deadline: Aug. 25
Doubletree Hotel Houston Hobby Airport
8181 Airport Blvd.
Houston, TX 77061
More information and registration.

Dallas, Oct. 4
Early Bird Deadline: Aug. 25
Doubletree Dallas by the Galleria
4099 Valley View Ln.
Dallas, TX 75244
More information and registration.

Your Presenter: Deborah L. Crawford
President of Gettechnical, Inc., Deborah L. Crawford specializes in the education of credit union employees and officers in the areas of deposit account laws, new account documentation, complex compliance regulations, and IRAs. Crawford is well known within the industry for her humorous delivery, personal accounts, and promise to reach each and every attendee in her seminar.

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 Cookie Dorsey at