News

ATM Fee Vigilantes Filing Reg E Lawsuits Against Credit Unions

Individuals across the country are filing lawsuits against credit unions and banks for failing to place surcharge notices on their ATMs.  Financial institutions in Michigan, California, and Illinois have been hit hard by the recent suits which claim that the terms of the Electronic Funds Transfer Act (EFTA, or Reg E)  are violated when the […]

Regulation E and e-Statements

The CU*Answers mantra has always been “we make the tools, not the rules.”  Regulation is always subject to interpretation and in some cases business risk.  When we developed the e-Statement platform, credit unions requested we give them the ability to physically enroll members at the time of account opening.  This request came from those credit […]

Risk Concentration Webinar – 03/08/11

Thank you to everyone that attended the Risk Concentration Webinar today! Another outstanding turn out. Below you will find a link to a copy of the PowerPoint, along with links to supporting Risk Concentration documents. Concentration Risk Webinar – March 8 2011 2011 CU A Concentration Risk Offerings – Sample Report 2011 CU A Concentration Risk Offerings […]

2011 Concentration Risk Offerings

Attached are two pieces of information that describe the Concentration Risk offerings by CU*Answers. This material will be covered in more detail during tomorrow’s Risk Contraction Webinar between 3-4PM. There is still time to register if you haven’t done so already. Risk  Concentration Webinar 2011 CU A Concentration Risk Offerings – CU BASE Platform 2011 […]

Web Conference Scheduled Highlighting Risk Management Tool

CU*Answers, the West Michigan-based CUSO known for providing CU*BASE core data processing and other services, will be hosting a Web Conference to unveil new features of its Risk Management Report Generator on February 11. According to CU*Answers, the Risk Management Report Generator is an online tool that facilitates Due Diligence, Risk Management Planning & Monitoring […]

AuditLink to offer Concentration Risk Services

AuditLink, a division of CU*Answers, the Michigan core data processing CUSO known for providing CU*BASE, has announced a new offering to assist credit unions in complying with recently published concentration risk monitoring requirements. NCUA Letter 10-CU-03 requires credit unions to manage concentration risk and defend their capital position with respect to segmentation development in […]

Why citations are so important

During the last 26 months I have completed over 30 AuditLink assessments related to compliance/audit spanning New York to Oregon.  Throughout these reviews I am consistently amazed at the volume of busy work created out of ineffectual processes, policies, and system configurations sanctioned by a third party.  The credit union creates work for the sake of […]