Compliance Watch

As regulations evolve and industry standards shift, it is critical for credit unions to stay informed to ensure compliance throughout the organization.

I realize there is no specific number of Suspicious Activity Reports (SARs) a financial institution must file, but it does seem like the number of SARs we file has increased over the last several years. Is this the norm?

We’ve been anxiously awaiting the arrival of this rule, and we knew it would be a doozy!

Back in July, the joint agencies finalized their reconsideration of value guidance. The guidance provides examples of policies and procedures that the credit union may choose to implement to help mitigate the risk of discrimination impacting residential real estate valuations.

I heard there are going to be changes regarding how share insurance works on trust accounts at federally insured credit unions (FICUs)?

We are excited to share that we are nearing completion of our integrated platform that combines the best features of InfoSight, CU PolicyPro, and RecoveryPro.

Is it appropriate for credit union board members to be involved in personnel matters at the credit union?

In an effort to reduce the incidence of successful fraud attempts and improve fund recovery after fraud has occurred, NACHA has made some rule amendments as part of a larger risk management package that became effective on Oct. 1, 2024.

Our credit union is looking for a Robbery Tooklkit. Does Cornerstone offer this resource?

In honor of compliance officers and in celebration of their special day, let's dispel a few common myths about the role. Despite their best efforts, compliance officers sometimes get an unfair shake. Let’s set the record straight.