Compliance Blog

By: TechGuard Trust me, we get it… Being in your position isn’t easy – you have a lot of daily responsibilities, constantly juggling different projects while trying to maintain focus on the ultimate goal – RUNNING YOUR BUSINESS. It’s exhausting, and the last thing you want to deal with is one more task getting thrown your way. ...

By: Shannon Basile, Compliance Analyst The beginning of a new year is often a great time to get a jump start on goals by cleaning up and organizing documents and old files. Taking on this task often leads to many questions about how long certain documents should be retained by the credit union. The credit ...

By: Patrick Smith, SVP Regulatory Affairs I hope everyone enjoyed another wonderful holiday season! As we start the new year, I wanted to make sure all our credit unions get off to a great start by reviewing NCUA’s top Supervisory Priorities for 2020. As in the past, many of these priorities are continued from ...

By: Kari Osier, Compliance Specialist The Compliance Calendar provides compliance deadlines for the calendar year 2020. Please click here to view. The Calendar is also posted on the League website in the Compliance section under Tools & Resources.

By: Kari Osier, Compliance Specialist Collateral description errors in security agreements can defeat a credit union’s security interest. To avoid this problem, credit unions need to precisely describe the identity of the collateral. Since many of our credit unions deal with motor vehicle repossessions, this blog post will focus on collateral description errors relating to motor ...

By: Kevin Shaw, Senior Regional Director Compliance is a year-round focus for credit unions. While we stress over compliance, it is easy to lose sight of what our members have on their minds and the way we carry out our mission to ease their burdens. The holidays pose a particularly difficult time for our members ...

By: Shannon Basile, Compliance Analyst On October 28, 2019 United States District Court for the Eastern District of Texas found that Wells Fargo infringed on two USAA patents for its use of remote deposit capture (RDC) technology. USAA was awarded $200 million in damages and has a pending lawsuit against Wells Fargo for additional patents ...

By Pat Voss, AVP Member Outreach This week I would like to share a white paper by Experian discussing synthetic identities and how to detect and prevent this growing type of fraud.

By Kevin Shaw, Senior Regional Director Over the last several years, Bank Secrecy Act (BSA) and Office of Foreign Asset Control (OFAC) are major focuses for state and federal regulators. Back in February 2018, Pat Voss shared a blog that provided critical information and resources on BSA and OFAC risk assessments. Risk assessments continue ...

By Katherine Romano Schnack, VP Legal, LSC Synthetic identity fraud continues to be a challenge for financial institutions big and small across the United States. Do you know the basics of synthetic identity fraud? A recent white paper issued by the Federal Reserve is a great place to learn more about synthetic identity theft. ...