Supporting the Upcoming Changes on the NCUA Call Report Sweeping changes no, ready to go yes Over the course of the last few days there have been multiple press releases regarding the upcoming changes to the 5300 Call Report. Headlines such as “Sweeping Changes” are grabbing the attention of our clients and we have received […]
News
Regulation B – Adverse Action Notices
The CFPB’s republishing of Regulation B resulted in a required change for Federal Credit Unions. By January 1, 2013, FCU’s will need to change their Adverse Action Notices to include the addresses of the following Federal Agencies: FCUs under $10 billion in assets National Credit Union Administration (NCUA), Office of Consumer Protection (OCP), Division of […]
Your Guide to a Successful ACH Audit
Audit season is upon us and what is more frustrating than getting the check list from your auditor of items needed and not knowing where to start? Well look no further! AuditLink has created a document designed to help you pass your ACH audit with flying colors. The document follows each of the audit requirements […]
Concentration Risk and Abnormal Activity Monitoring Checklist
Concentration Risk and Abnormal Activity Montitoring Presentation from August 14, 2012.
Assessing Transaction Risk Related to Overdraft Fees and Posting Methodology
In recent months I have had a number of calls related to the class action lawsuits been filed in a number of states relative to perceived “non-consumer-friendly” transaction posting practices causing excessive overdraft fees. As the press has exposed, both banks and credit unions are either settling these types of suits or losing them altogether. What […]
New IRS Rule to Require That Dividends to Non-US Citizens Be Reported
Beginning in January 2013, the IRS will require that dividends to non-US citizens be reported by credit unions in an effort to reduce tax evasion. To assist our credit unions in complying with this regulation, I recommend that they: Create a savings account that does not pay dividends and freezes the regular share account from deposits […]
April 2012 – ExamShare and PolicySwap Newsletter
April 2012 – ExamShare and PolicySwap Newsletter
Proposed NCUA Interest Rate Risk Policy and Program
Overview The NCUA is proposing a new requirement that certain federally insured credit unions must have a written policy for interest rate risk management as part of their asset liability management responsibilities. This rule will take effect on September 30, 2012. What are the penalties for non-compliance? The NCUA will use compliance with this rule […]
FFIEC Supplement on Internet Banking Class 2
Thank you to everyone that attended our second webinar on the FFIEC Supplement to Authentication. As promised, here is a copy of the powerpoint used during the webinar. FFIEC Supplement on Internet Banking CLASS 2 December 15
Sample It’s Me 247 Risk Assessments in Response to FFIEC
On Thursday, December 15, 2011, at 1:30 pm ET, CU*Answers will be hosting Part 2 of a webinar series intended to address guidelines of the FFIEC’s Supplement to Authentication. During this session Jim Vilker and Patrick Sickels will discuss the importance of performing a risk assessment on how your credit union uses It’s Me 247, along […]