It’s hard to believe it was only three weeks ago when I posted a blog about the interesting coronavirus (COVID-19)-related discussions in CUNA’s Compliance Community.
Back then we were talking about keeping our lobbies safe, disinfecting our ATMs, and dealing with staffing issues should large-scale school closings occur (which at the time seemed far-fetched).
Today, most credit union lobbies and schools have closed, and we are now focused on helping our members through this COVID-19 related economic crisis.
CUNA’s Compliance Community will keep you up to date on all of these issues. In a rapidly changing situation, it’s important to have a dynamic resource that’s as flexible as the changing requirements.
Here are some recent threads on the Compliance Discussion Board:
Loan advances against stimulus checks.
How stimulus checks will impact credit unions’ net worth.
COVID-19 “essential employee” letter.
COVID-19 hardship extensions and negative amortization.
Collection efforts and COVID-19.
Skip-a-payment options for indirect loans, credit cards, mortgages, and other loans.
Drive-thru window guidelines.
Poll regarding compliance staff working remotely
Suspicious activity reports and other Bank Secrecy Act monitoring issues.
Closed lobbies leading to unintended “walk-up” windows.
How to address staff with a COVID-19 diagnosis.
Handling large cash withdrawals.
Moving to online account opening.
Reversing fees in response to COVID-19.
Families First Coronavirus Response Act small business exemption.
Access to safe deposit boxes;
Staff travel restrictions and self-quarantine.
Mortgage forbearance agreements.
Credit reporting and suspended mortgage payments.
Extension on delinquent loans.
Allowing all members to use mobile deposit.
Structured cash withdrawals due to COVID-19 fears.
Late payment reminder notices.
Excess share insurance.
I wonder what discussion topics will surface in another three weeks.
Credit Union Magazine’s Fall 2022 issue highlights credit unions’ role in cryptocurrency, the state of digital assets, cannabis banking compliance, the human side of technology implementation, and involving the board in financial discussions.
