2014 Credit Unions for Kids Funds Due January 16

Credit unions must submit their checks using a simple form by January 16 for funds to count towards 2014 fundraising totals.

Applications for Free NCUA Consulting Due November 30

Small and new credit unions, and those with low-income designation, are encouraged to apply for free consulting from the Office of Small Credit Union Initiatives.

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.

Compliance Question of the Week

Can I charge any fees due to dormancy or inactivity, or stop paying interest on a dormant account?

Strategic Link Question of the Week

“With two years remaining on our contract with our current card processing system, we are looking to honor our commitment to due diligence by looking into other processing systems, but we are concerned about the time and money it will take to compare systems. We want to make sure our credit and debit card program is as valuable as possible to our members and to our credit union. Do you have any suggestions for where we should start or who we should contact?”

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.

Legal Briefs

Your weekly update on the regulatory landscape.

Compliance Question of the Week

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

Legal Briefs

Your weekly update on the regulatory landscape.

Legal Briefs

Your weekly update on the regulatory landscape.

Legal Briefs

Your weekly update on the regulatory landscape.

Legal Briefs

Your weekly update on the regulatory landscape.

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.

FTC Announces Schedule for Reviewing Regulations and Rules Transfer to CFPB

The FTC issued a press release updating its 10-year review schedule, announcing that it would not review four rules previously scheduled for review in 2012. The release also clarified the rules whose authority would be transferred to the CFPB.

Legal Briefs – Dec 28, 2011

Your rundown on the regulatory landscape.

Legal Briefs

Your update on the regulatory landscape.

Legal Briefs

Your update on the regulatory landscape.