FinCEN Issues Proposed Rule Enhancing Customer Due Diligence Requirements

FinCEN released a proposed rule to enhance customer due diligence requirements at financial institutions. Find out what it means for credit unions in this week’s Compliance Center. Also: legal briefs and the question of the week.

CUNA Strategic Services: Listening Leads to Bottom-Line Results

Listening to what credit unions want is the key to providing the best partner services. Strategic Link business partner CUNA Strategic Services is profiled this week.

Catalyst Corporate Releases First Due Diligence Report

Catalyst Corporate, a Strategic Link gold partner, rolled out the first edition of its new quarterly Due Diligence Report this week. The publication focuses on corporate transparency and includes financial statements and information about Catalyst’s risk profile, CUSO investments, compliance and operational procedures.

CFPB Says Credit Unions Could Be Responsible for Third-party Actions

The CFPB recently issued a bulletin reminding credit unions that they can be held responsible for the actions of third-party contract service providers and that they are expected to have an effective process of managing risk in these relationships.

Regulators Answer CU Questions at Forum

The Governmental Affairs Forum addressed many pressing issues at the state and federal levels including due diligence, new programs, shortened exam cycles, and policy documentation.