Compliance Watch

Question: Do we need a wet-ink signature on a wire transfer? Answer: No, but you might want one. Both the Electronic Signatures in Global and National Commerce Act (E-SIGN) at the federal level and the Uniform Electronic Transactions Act (UETA) at the state level exclude wire transfers from coverage.

Make sure you’re seeing all the RISK Alerts. Use the gear icon on the InfoSight dashboard and check the RISK Alerts box.

The National Credit Union Administration Board has issued a press release and published an interim final rule that temporarily modifies certain regulatory requirements to help ensure federally insured credit unions remain operational and able to provide needed financial services during the COVID-19 pandemic.

The Federal Trade Commission announced it has charged St. Louis-based chiropractor Eric Anthony Nepute and his company Quickwork LLC with violating the COVID-19 Consumer Protection Act and the Federal Trade Commission Act...

The NCUA has announced that low income-designated credit unions seeking Community Development Revolving Loan Fund (CDRLF) grants in 2021 will be able to apply between May 3 and June 26.

The CU DEI Collective recently launched its new website, which is designed to provide a robust collection of DEI resources and opportunities to all members and supporters of the credit union family.

More than 1,500 credit union executives and volunteers from more than 60 countries are expected to attend the virtual 2021 World Credit Union Conference, July 14–21, 2021.

Question: Our member brought in a check from 2017 and wants to file a claim that the check was forged. How long do they have to make the claim? Answer: It’s dependent on state law.

Find out how you can make sure your dashboard is showing the correct updates.

The federal banking agencies, in consultation with the Financial Crimes Enforcement Network and the National Credit Union Administration, recently issued a joint statement addressing how risk management principles described in the “Supervisory Guidance on...