Compliance Watch

Myth #3: Compliance management is only necessary to avoid penalties and lawsuits. Myth #4: Compliance is a one-time event.

A member recently closed their account. The credit union has since received a deposit. Can the credit union re-open the account and accept the deposit to apply toward an amount the member still owes the credit union?

With Memorial Day quickly approaching, DCUC recognizes the importance of this historic holiday and urges others to reflect on its true meaning during the upcoming extended weekend.

Q4 2022 data suggest over $5.5 billion reduction on annual basis going forward; fees still totaled $7.7 billion in 2022.

The National Credit Union Administration Board held its fifth open meeting of 2023 and approved a proposed rule that would amend the charitable donation accounts section of the NCUA’s incidental powers regulation.

This blog, written by Alexei Alexandrov and Elizabeth Saunders, looks at how "mortgage rates paid by consumers vary across lenders.

The Consumer Compliance Outlook published by the Federal Reserve highlights six common challenges faced by compliance officers. It’s a great overview of things to keep in mind, whether you are the compliance officer, the CEO, or VP of lending.

As an industry, financially protecting military members is OUR duty and should be a top priority throughout the year. We can do that by making sure credit union staff are versed and trained in the Military Lending Act and Servicemembers Civil Relief Act.

Myth #1: Compliance management is all about regulatory compliance. Myth #2: Compliance management only involves the compliance department

Since a Payable on Death account is considered an informal revocable trust for National Credit Union Share Insurance Fund purposes, must each account owner be a member in their own right for their respective interest in the funds to be insured up to $250,000 for each beneficiary?