Compliance Watch

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.

Artificial Intelligence (AI) is such a hot topic. Is there anything our credit union should be doing about AI at this time?

With overdraft practices under scrutiny in general, it’s a good time to review your credit union’s program to make sure your processes are well documented and evidenced.

Can our credit union have a policy where we add a set amount to the debts of a loan applicant who does not report any housing expense (e.g., due to still living at home, attending college, etc.)?

Last month, League InfoSight, in collaboration with our League/Association partners, hosted one of the largest credit union fraud seminars this year. This two-day virtual event brought together hundreds of credit union professionals to explore key fraud topics that are currently impacting our industry.

How do I determine if I have a valid OFAC match?

September is National Preparedness Month, and the theme for 2024 is “Start a Conversation.” Discussing preparedness can be difficult because it’s focused on events that may disrupt our lives and cause trauma to those we love. However, having these conversations is vital as they are the foundation on which we build the learning and actions needed to prepare.

Our employees invest a significant amount of time fulfilling various Bank Secrecy Act (BSA) reporting requirements. In an effort to encourage them, is there a resource I can share that shows BSA reporting actually does work?