Breakout Session #8

Stacey Caughey

Navigating the Evolving Road of the Military Lending Act
Stacey Caughey, PSCU

This interactive session covers the evolving road of the Military Lending Act.  It will provide an overview of the most recent revisions and expanding application of the Act.  There will be discussion of the impact of the looming requirements for consumer credit card account-related provisions that will become effective in October 2017.  Credit unions and financial institutions need to be prepared for these evolving changes, including military status verification checks, disclosures, rate caps and much more.  Attendees learn strategies to assist their Credit Union as well as obtain helpful potential resources to better navigate through the latest amendments.

About Stacey Caughey

Ms. Caughey joined PSCU in July 2015 as Regulatory Compliance Principal of the Enterprise Risk Office.  She currently provides leadership and guidance across the organization for regulatory compliance issues and has developed PSCU’s Compliance Management Program.  She also manages the enterprise compliance structure and provides reasonable assurances to senior management and the Board of Directors that effective policies are in place.  She has expertise in a wide variety of laws and regulations, including TILA/Regulation (Reg) Z, ECOA/ Reg B, Unfair Deceptive or Abusive Acts and Practices/UDAAP, FCRA/Reg V, Privacy, SCRA, the Military Lending Act, Collections, Bank Secrecy Act, OFAC, E-Sign, payment systems and NACHA/ACH. 

Prior to joining PSCU, Ms. Caughey served as Compliance Manager at Alliance Data for 2 years and managed a team that advised the business on consumer credit regulatory compliance issues impacting various business operations and channels.  The team served as a strategic business partner to implement new clients and client credit card programs and advised on all aspects of credit card programs from soup to nuts.  The team provided guidance and oversight on consumer credit regulatory compliance matters

Prior to joining Alliance Data, Ms. Caughey served as General Counsel and Compliance Officer at Corporate One Federal Credit Union (FCU).  She spent 5 years at this corporate credit union and provided legal advice and compliance oversight.  She also advised on current and pending legislation, banking, risk management, employment law and contract-related issues, attended Board meetings and interacted with the NCUA.  Ms. Caughey was also responsible for and managed all aspects of the Bank Secrecy Act (BSA) and Anti-Money Laundering (AML) Program, including the NCUA’s annual BSA/AML examination and the internal audit of the program by an independent third-party. 

Prior to joining Corporate One FCU, Ms. Caughey worked at Nationwide Insurance Company for 5 years.  She advised all management levels of a corporation providing 457(b), 401(k), 401(a), & 403(b) defined contribution plan administration services & investment products for 8,000 governmental plans with 1.5 million participants and $46.2B assets under management as an Office of General Counsel team member.   She also responded to RFPs up to $2B & negotiated contracts, interpreted laws, provided risk counseling, wrote legal opinions, responded to regulatory inquiries, advised on group annuity, mutual fund & records management issues, coordinated with Compliance & Litigation Department, and reviewed marketing literature.

Ms. Caughey is a detail-oriented attorney with 15+ years of experience as a legal, compliance and project adviser.  She has expertise advising corporations and financial institutions on state and federal regulatory requirements, consumer credit laws compliance, contract drafting, litigation, mergers, risk management, and the Bank Secrecy Act.  She received a B.A. in English Writing/Journalism from the University of Pittsburgh and a J.D. from the University of Dayton, School of Law.  Ms. Caughey is married and the proud mother of a son.  She enjoys golf, volleyball, bootcamp and traveling.

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