Compliance Watch

On April 30, the Department of Justice recommended that cannabis be rescheduled from Schedule I in the Controlled Substances Act to Schedule III. For now, nothing changes regarding banking cannabis accounts.

We are considering changing a couple of fees on the deposit side. What is involved in this process?

InfoSight offers a comprehensive Trusted Contact Person Toolkit to help credit unions combat elder financial exploitation.

Our member did not notify us promptly that they were going on active duty. Per the Servicemembers Civil Relief Act (SCRA), we have retroactively dropped the interest rate on the servicemember’s existing loan to 6%. How do we reimburse the member for the excess interest that was paid during the delay?

Check fraud is still an issue that needs attention and monitoring. Even older techniques such as “check washing” are making a comeback.

I heard May is Older Americans Month. Are there any resources we can share with our members?

Stay on top of federal regulatory changes with InfoSight’s compliance videos, highlighting developments related to deposit accounts, lending, and credit union operations.

What is the stale date on a cashier’s check (i.e., when do they expire)?

Development has started on the combination of our products into one advanced and easy-to-use platform.

Does my credit union need to report its own beneficial ownership information (BOI) to the Financial Crimes Enforcement Network (FinCEN)?