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Upcoming Conference Examines Remote Deposit Capture, BSA, Emerging Payment Frauds, and More
Friday, August 8, 2014 6:50 AM

The Cornerstone Credit Union League has scheduled its Compliance & Audit Conference for Sept. 22-24 in Fort Worth, Texas. This premier conference affords compliance and audit professionals to learn from the industry’s brightest; explore what's hot now and what's coming up in credit union regulatory compliance; network with peers, and share best practices. Registration is now available online, and compliance and audit professionals are encouraged to register by Aug. 29 to take advantage of early bird registration.

Following are some of the many compliance-focused sessions at this year’s conference:

High-Cost (HOEPA) versus Higher-Priced (HPML)
Mortgage lending regulations have continued to evolve over the years and, unfortunately, this has resulted in numerous sub-categories of mortgages. And, each subcategory includes its own requirements, restrictions and prohibitions. This session will define High-Cost/HOEPA/Section 32 mortgages and Higher-Priced Mortgage Loans (HPMLs) and what rules the credit union must follow in each situation. We’ll discuss the thresholds for each type of mortgage loan – including the related Qualified Mortgage rule – to help credit unions properly categorize their loans to ensure compliance.

Remote Deposit Capture
RDC is becoming more popular as a beneficial service for credit union members challenged by accessibility to physical offices in order to do business. Credit unions need to develop effective policies and procedures in order to carry out successful RDC activities, avoiding loss and regulatory sanctions. This session covers performing effective risk management for a successful program including risk assessment, risk mitigation and controls, risk measuring and monitoring, and more.

Compliance Risks in Social Media Advertising
The Federal Financial Institutions Examination Council finalized guidance late in 2013 on Consumer Compliance Risks in Social Media. The guidance specifically mentioned the risks associated with advertising. This session will highlight the guidance and the main compliance hurdles for credit unions as they communicate with members, and future members, using social media. This session explores the applicable rules, exemptions and best practices for credit unions as they review and audit their social media campaigns.

Consumer Protection: New Focus, New Rules, and the Impact on CU Operations
In this session, Matt Billbouris, deputy director, Office of Consumer Protection with NCUA, outlines core functions of the Consumer Financial Protection Bureau (CFPB), survey recent final and proposed rules, explain NCUA’s working relationship with the CFPB, and educate credit union officials in having a voice in the decisions affecting business operations and member services.  This session emphasizes NCUA’s role in the rulemaking process, and coordination with other agencies in implementing the requirements.

Bank Secrecy Act Update
From the recent actions regarding Ukraine and Russia, to the uncertainty on providing financial services to marijuana-based businesses, 2014 has presented many new and expanded challenges for compliance officers from a BSA perspective.  This session will provide an update all of the recent guidance issued by FinCEN, information on the new OFAC lists, plus a look at where FinCEN might be targeting next in regulatory implementation.

Compliance Update – Something Old/Something New
In this fast paced general session, credit union attorneys Charlie Williams and Mike Blalack will address some key new compliance issues including a number of worrisome CFPB matters that have arisen in 2014, and will then revisit some old and still overlooked compliance pitfalls that continue to linger in the collection departments of many credit unions.

Daily Headaches – CU Operational Compliance
We all get bogged down with CFPB, FTC, NCUA, Federal Reserve and even more burdensome compliance issues.  In this session, This session focuses on the daily compliance issues confronting credit unions – the operational compliance issues including RESPA matters, accounts, loans, and…your member’s needs, demands and expectations.

Emerging Payment Frauds
This information-packed session offers an overview of the types of losses credit unions are experiencing in the areas of online account takeovers, ACH transactions, remote/mobile deposit capture, wire transfers, and plastic cards. This session will also review how these losses are occurring, and controls that credit unions can implement to help prevent them.

Information Security & Risk Management/ IT Audits
Member information security must take three angles into consideration; physical, administrative, and technical security.  Although these components are very different in nature, they must be treated and addressed with member security, reputation, and compliance in mind.  This session will take a look at the credit union’s risk-based Information Security Policy & Program in accordance with NCUA Regulation 748 Appendices A & B.  The session will also address current crime trends and the threat of compromise and reputation loss.

NCUA and Texas Credit Union Department Examination Update
Please bring your questions and join Supervisory Examiner Dennis Farmer and Field Manager Mark Buie for a presentation and discussion on what you need to know about new regulations and your upcoming examinations. 

To learn more about the Compliance & Audit Conference, please visit the “Education” section of Cornerstone’s website. If you have any questions, please contact Training & Events, at (469) 385-6630 or (800) 442-5762, ext. 6630.

Educational grants are available through the Cornerstone Credit Union Foundation. To learn more, please visit