Compliance Watch

FinCEN Acting Director Himamauli Das, in prepared remarks at the FDIC-FinCEN Tech Sprint demonstration day on April 8, 2022, explained how the Tech Sprint and its focus on digital identity fit into the broader FinCEN picture.

On April 4, the U.S. State Department formally launched the Bureau of Cyberspace and Digital Policy, (CDP) as part of a longstanding effort to weave international diplomacy into federal efforts to combat the rise of malicious nation-state cyberattacks and the proliferation of criminal ransomware.

Business Continuity Planning is the practice of asking “What if...?” questions, then creating plans and preparing to address them. RecoveryPro guides credit unions through the creation, maintenance, and testing of robust business continuity plans (BCPs).

I know members have to opt in for overdrafts on ATM or one-time debit card transactions, but do they have to opt in for overdraft/courtesy pay on other kinds of transactions like checks, recurring debits, or ACH?

Few opportunities remain to get in on this year’s Ambassador Program—the only in-person learning experience that teaches you how to be an advocacy pro for credit unions.

Question: Can you explain how remote deposit capture indemnity works in Reg CC? Answer: 12 CFR 229.34(f) of Regulation CC states, in short, that if you as a credit union accept a payment by remote deposit capture, you are willing to repay any losses caused by acceptance of that check later in time.

We’re very excited to announce that less than two weeks remain before we kick off this year's 2022 Oklahoma Governmental Affairs Conference, April 12–13 in Oklahoma City. And great news… you still have time to register!

On Monday, Cornerstone League submitted a comment letter to National Credit Union Administration regarding its proposed rule on succession planning.

Our highly requested Compliance Update videos (formerly “Compliance Connection” videos) are BACK!

The 2022 edition of the Guide to HMDA Reporting: Getting it Right Is now available. The guide is a valuable resource for assisting all institutions in their HMDA reporting.