In addition to CUNA’s compliance resources such as CompBlog other materials, CUNA’s compliance staff fields questions regularly. Here are some of the most commonly asked questions and answers from CUNA compliance staff.
NCUA has released its list of supervisory priorities for 2018 in a letter to federally insured credit unions. A CUNA CompBlog entry provides information on the letter, which is also available on NCUA’s website.
FinCEN launched a new program last week, FinCEN Exchange, to enhance information sharing between law enforcement and financial institutions. Credit union participation in the program is voluntary, and the program does not introduce any new regulatory requirements.
With the DOL finalizing an 18-month extension the fiduciary rule’s applicability date, what should credit unions do during the extended transition time? The rule’s amended definition of “fiduciary” became effective June 9.
Regulation Z identifies additional compliance requirements associated with loan transactions that are considered higher-priced. A recent CUNA CompBlog entry breaks down these requirements and identifies the updated higher-priced mortgage loan appraisal exemption threshold for 2018.
More than 300 credit union compliance professionals from 237 credit unions and more than 20 associations attended last week’s CUNA/NASCUS BSA Conference to get the latest information on BSA compliance from regulators, attorneys and other compliance professionals.
The assessment process is the shoulders in which all BSA/AML programs sit upon, Jim Vilker of CU Answers said Wednesday at the CUNA/NASCUS BSA Conference, explained how credit unions should ensure risk assessments are comprehensive.