Compliance Center: CUNA Mutual Group Risk Alert on Overdraft Fee Lawsuits

CMG warns bond policyholders on overdraft fee lawsuits, your questions answered on members

stopping payment on cashier’s checks, plus this week’s legal briefs.

FFIEC Issues a Warning about Increased Cyber Attacks On ATMs

A statement from the Federal Financial Institutions Examinations Council lists the steps credit unions should take to address the threat posed by cyber attacks on ATM and card authorization systems. Also in today’s Anthem: Legal Briefs, and the Question of the Week: “Can a credit union stop payment on a cashier’s check, teller’s check or certified check?”

Compliance Question of the Week

Can a credit union stop payment on a cashier’s check, teller’s check or certified check?

Compliance Question of the Week

If a member wants to purchase a cashier’s check for $9,975 with a service fee of $50 and pay in cash, is the credit union required to file a currency transaction report (CTR)?

Compliance Question of the Week

Can a credit union stop payment on a cashier’s check, teller’s check or certified check?

Bouncing Cashier’s Check Fraud Scams

This form of fraud is on the rise, and the victims are usually the people who can least afford to be taken.