Join Chip Filson, Callahan Chairman, as he hosts a panel of industry leaders to discuss the most comprehensive and consequential regulation ever proposed, NCUA’s Risk-Based Capital Rule. Current Panelists Include: Jim Vilker, VP of Professional Services at CU*Answers Doug Alldredge, Chief Financial Officer of First Credit Union in Arizona Andrew Bolton, Senior Analyst for Callahan […]
News
What does compliance truly cost your credit union?
What does compliance truly cost your credit union? During last November’s CEO Strategies meeting it was stated by a number of CEOs that the cost of compliance is killing their credit union. AuditLink took this as a challenge. In June, at the Leadership Conference, CU*Answers and AuditLink announced that they will be running successive contests meant not […]
“From DC to Michigan: A Compliance Update” was a success!
For those of you who joined us in Pontiac yesterday for the “From DC to Michigan: A Compliance Update” event, thank you for attending! We were very pleased with the turnout of almost 40 attendees. We had some really great speakers Steve Van Beek from Howard & Howard, Meg Prieur from The Payments Authority and, of course, […]
Adjustable Rate Mortgages (ARMs)…. Updates to ARM notice coming soon!
In addition to the mortgage periodic statement requirement per Regulation Z , we are also addressing the changes required for ARM notices. The CU*Answers product team recently approved updates to our existing variable rate change notice. In the regulation, the sample form is in the appendix under “H-4(D)(2) Sample Form for § 1026.20(c)”. After discussions with […]
The “Best Of” Network Compliance Teacher
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 […]
FFIEC weighs in on the end of Microsoft XP Support
We have sent out numerous notices related to our recommendations for clients to replace PCs utilizing Microsoft XP predicated on the fact that Microsoft is discontinuing support of the operating system on April 8th 2014. In this case discontinuing support of the XP operating system includes updates, technical assistance, and security patches. Our recommendations to […]
Addressing Mortgage Periodic Statements
In July 2013 the CFPB issued the final interpretations for changes to Regulation Z precipitated by the Dodd Frank Act, which requires financial institutions to provide a monthly statement to members who have closed-end mortgages. (The specific addition can be found in Section 1026.41, excerpts from which are quoted in the body of the announcement.) […]
It’s Never Just The One Event
Over the course of the last few years, the AuditLink team has been involved in a number of investigations related to both member and employee fraud and theft. In almost every circumstance, it was not just one activity that led to the loss associated with the fraud situation. Take, for instance, the situation where an employee […]
CU*Answers Releases White Paper Assessing the Risk of DDoS Attacks
CU*Answers, the 100% credit union-owned, cooperative CUSO headquartered In Grand Rapids, MI has published a white paper focusing on assessing the risk of Distributed Denial-of-Service attacks (DDoS). The white paper was developed in conjunction with AuditLink, an auditing and compliance division of CU*Answers Managed Services. The document fully describes a DDoS attack and what credit […]
AuditLink’s Top Ten
Following is the list of suggested projects—affectionately referred to as AuditLink’s Top Ten which have made it to my radar and are currently being discussed here at CU*Answers. You’ll notice a few that are well along in development and nearing implementation, while others are still in the early stages of design. And some of these […]