CU*BASE tool hints for compliance and auditing

Another year is coming to an end and we have just released the sixth edition of the Network Compliance Teacher magazine.  It was tough to choose which of the articles were the “best of” but here they are!  We want to thank everyone that contributed in the success of this publication.  We look forward to the […]

On April 30, 2013 the CFPB issued the final Remittance Transfer Rule amending subpart B of Regulation E.  This final rule modifies the final rules issued in February, July and August 2012. The rule: 1.     Modifies the 2012 Final Rule to make optional, in certain circumstances, the requirement to disclose fees imposed by a designated […]

Thank you to everyone who joined us last Wednesday for the Concentration Risk and Abnormal Activity Monitoring Best Practice webinar.  As promised, I have attached the PowerPoint presentation. Concentration Risk and abnormal activity montitoring 3-27

In February 2013, the NCUA published a risk alert advising credit union CEOs and boards of directors on steps they should take to evaluate risks associated with Distributed Denial-of-Service (DDoS) attacks. The risk alert addresses three strategies for mitigation: Performing risk assessments to identify risks associated with DDoS attacks Ensuring that incident-response programs include a […]

The NCUA has released their Supervisory Focus Letter for 2013.  Headlining the letter are concerns by the NCUA about information security and fraud detection.  Prior to an examination, management and the board of directors should review controls in CU*BASE regarding employee security, online banking security, and abnormal activity monitoring.  In addition, the NCUA still has […]

As most of you already know, recipients receiving Social Security by check will have until March 1, 2013 to sign up for direct deposit or the Direct Express debit card. One way for recipients to sign up for direct deposit is through “Go Direct”.  What Financial Institutions don’t know is that they can become a “Go […]

Thank you to everyone who attended today’s webinar.  Below is the link to the PowerPoint presentation. On a personal note, it has been our pleasure doing business with all of you and we look forward to serving you in the coming year. Happy Holiday’s from your AuditLink team! Focus Group Presentation  

Thank you to everyone who attended the Collections Roundtable on November 14.  Below you will find the PowerPoint for the presentation on NCUA Reg 741 3 Loan Work-Out. NCUA Reg 741 3 Loan Work-out

So, you may be asking, “Why file a Notice of Intent to Share Information?” I ask you, “Why Not?” The USA Patriot Act Section 314(b) gives financial institutions permission to share information with one another in order to identify, and report to the federal government, activities that may involve money laundering or terrorist activity. This […]

Thank you to everyone that attended all of the webinar’s on Tuesday, October 30.  As promised, Patrick has provided the PowerPoints used during the presentations. 9.01 IT Risk Management – A Quantitative Approach  While I encourage credit unions to look at and use numbers when making decisions, relying on numbers alone is a mistake.  For example, if […]