Compliance Watch

“Controls testing” is a term that has caused some confusion and stress in our community. This Spotlight article is aimed at demystifying the term and providing context about what it is, why it is important, and how Recovery Pro helps support the controls testing process.

Can our credit union charge a fee for paper statements as an incentive for members to sign up for free e-statements?

We encourage our credit unions to help facilitate board member access to InfoSight through their league page. Links and tools available within InfoSight allow board members to search for topics and access dependable information and links.

If a member deposits a check that is returned unpaid, can the credit union have a blanket policy where we charge the member a fee?

Whether it’s technical or content related, the area of regulatory compliance can prompt many questions. League InfoSight is always happy to hear from you and to provide you and your team with guidance and resources.

Who is the member/customer when an account is opened by an individual who has power of attorney?

Missouri Credit Union Association is presenting an opportunity for Missourians to visit with lawmakers in Jefferson City and engage with lawmakers, sit in on a committee hearing, and more.

InfoSight is provided as a FREE resource from your league. If you haven’t been taking advantage of InfoSight, now is the time.

Does Cornerstone offer free Bank Secrecy Act (BSA) and Office of Foreign Assets Control (OFAC) training?

It’s here—the final rule from the CFPB on Credit Card Penalty Fees will become effective 60 days after publication in the Federal Register. What does this mean for your credit union?