Credit unions have enough to keep them busy without being burdened with added work imposed by regulations and compliance. That’s where we come in. AuditLink has built collaborative services for completing the work that credit union clients can’t afford to do on their own. Such as concentration risk evaluations, daily log management, compliance reviews and […]
News
Your Ultimate MLA Guide
NEW! MLA Workflow Document for Lenders We are proud to present a new document that will assist your lending staff in processing loans that must adhere to the guidelines of the Military Lending Act. This must-read document was created in cooperation with a number of credit unions who provided valuable input to help loan staff […]
NAFCU Blog on BSA Reporting Myths
Happy Friday! If you don’t already get the NAFCU blog emails every day, I highly encourage you to sign up. Today they wrote a great post on BSA reporting myths that I wanted to share. Have a great weekend!
MLA Active Duty Status Update
CU*Answers continues to work on the issues experienced with pulling the active duty status indicator on credit reports. Our research has uncovered that every Equifax client on the system was unable to pull a credit report once the actual change by ZOOT went live. What we discovered is that, unlike the other two bureaus, Equifax […]
Same Day ACH Q & A
Same Day ACH is here! CU*Answers has compiled a list of answers to common questions asked by our clients as it relates to Same Day ACH. Please contact a CU*Answers representative if you have additional questions. We will only have to post Same Day Credits this year, correct? Correct, only credits will […]
Examination Innovation Proving to be a Win-Win for Credit Unions and their Examiners
AuditLink, the auditing and compliance division of cooperative CUSO CU*Answers, spent part of their time at the recent CU*Answers Strategic Board Planning Session reflecting on the successes and areas for growth with its Examination Innovation initiative. The group’s objective is to improve the examination process by making it less of a burden on both credit […]
Same Day ACH – We Are Ready
*UPDATE* We have made a couple clarifying changes to the PowerPoint. Thank you to all who attended this afternoon’s webinar on Same Day ACH. As promised, I have attached the PowerPoint slides from the presentation. Jeff and I will work on getting answers to the few questions we missed and I will have them posted here shortly. […]
Update FinCEN’s 314(a) Announcement
Last week FinCEN announced that they were adding new data elements to the 314a file that you download and scan against member accounts. They reported that they would be adding email, IP address, and website address to an existing field in the file. No additional fields are being added; rather, new data type descriptions and […]
CU*Answers, Zoot, and the Military Lending Act (MLA)
As we’ve previously reported, we are working closely with Zoot in regards to MLA in order to develop the specifications that will ultimately lead to displaying an active military status on credit reports in CU*BASE GOLD. In a recent meeting between CU*Answers and Zoot staff, we learned from Zoot that our clients should be contacting credit […]
New Information Regarding 314(a) Data
Many of you received the email from FinCEN today announcing that IP addresses and e-mail addresses may be included within the 314(a) subject information that is made available to you via the Secure Information Sharing System (SISS). CU*Answers also received this email and is researching what (if anything) we will need to do with this data. […]