Recommendations for the Credit CARD Act The sky is not falling, but let any more legislation like this go through Congress and things just might get a little tight… During the last 3 months we have all been anxiously awaiting the Federal Reserve’s final interpretation of the Credit CARD Act. In the middle of January […]
CU*Answers created Personal Internet Branch (PIB) for our clients as a means for them to mitigate risks associated with their members’ use of online banking. PIB is our solution to the secondary authentication (multi-factor) requirements pushed by the NCUA, FFIEC, and the FDIC. Each of these regulatory bodies take information and financial account security very seriously with the onus falling on your credit union to institute compliance practices and be able to back them up during the examination process.
When What You Think Is Not What You Get President Ronald Reagan liked to use the term “trust, but verify”. He used the phrase to describe how he dealt with the Soviet Union in reducing the nuclear arms threat. Recently our Credit Union found out the hard way that what we thought to be true was […]
Credit CARD Act In the last few days the final interpretations of the Credit CARD Act have been hitting the desks of many of our clients. This was signed into law last month and to everyone’s surprise had some very aggressive dates for compliance. The most immediate deadline is August 20th. According to the law […]