Credit CARD Act

Welcome to the Credit CARD Act open forum. This area is designated for credit unions to share ideas, ask questions from peers and find assistance in meeting the guidelines. We encourage you to share any disclosures or processes by sending them to After submission the documents will be posted here for others to view […]

Reg. DD…and a Happy New Year to You, Too!

Special Guest Author: Barb Cooper, VP Professional Services The Truth-in-Savings regulatory changes, found in the update to the NCUA Regulation 707, seemed relatively easy to understand for this first round.  NCUA patterned their changes from the Federal Reserve in most respects, but not all. A tip from AuditLink’s Jim Vilker:  Credit unions are required to […]

CU*BASE Adds New Red Flag monitoring feature

News Release… Grand Rapids, Michigan –November 4th, 2009 To comply with Red Flag requirements to monitor things like address changes, a new Red Flag monitoring feature has been added to CU*BASE. This tool provides alerts to both the credit union and the member when changes are made to a member’s personal information to provide an […]

Update from NAFCU on the Credit CARD Act

21-Day Fix on to President’s Desk; Reg Z Proposal: Timely Settlement of Estates Posted: 29 Oct 2009 11:08 PM PDT – NAFCU Compliance Update by Anthony Demangone 7:55 p.m., Thursday evening I just received an email from our lobbying dynamo, Brad Thaler.   Just minutes ago, the U.S. Senate passed H.R. 3606 by unanimous consent. This […]

AuditLink Advisor – October 2009

CU*Answers created Personal Internet Branch (PIB) for our clients as a means for them to mitigate risks associated with their members’ use of online banking. PIB is our solution to the secondary authentication (multi-factor) requirements pushed by the NCUA, FFIEC, and the FDIC. Each of these regulatory bodies take information and financial account security very seriously with the onus falling on your credit union to institute compliance practices and be able to back them up during the examination process.

SAR Activity Review – Trends, Tips & Issues

The newest edition of this Bi-annual report generated from FINCEN  is now available. Issue 16 gives a detailed summary of the following: Mortgage loan fraud Trends and benefits of BSA E-Filing system Analysis of SAR inquiries Law enforcement cases Suggestions for filing a SAR What’s new for auditing the AML program This issue’s Law Enforcement […]

AuditLink Community Growing Rapidly

AuditLink, a compliance and audit process division of CU*Answers, has recently announced its community is 25 credit unions strong. According to the CUSO, the service has far exceeded original expectations of contracting for 20 credit unions in its first two years. Now 25 credit unions strong, it is expected that AuditLink will be […]

Introducing the CU*BASE 5300 Call Report Tool

The CU*BASE 5300 Call Report tool was released this summer!    Credit Unions now have the ability to enter their Call Report data into CU*BASE.  This is a big step toward reducing the burden of completing this quarterly task. CU*Answers plans to automate the collection of data for the Call Report as much as possible for […]

AuditLink Advisor – September 2009

When What You Think Is Not What You Get President Ronald Reagan liked to use the term “trust, but verify”.  He used the phrase to describe how he dealt with the Soviet Union in reducing the nuclear arms threat.   Recently our Credit Union found out the hard way that what we thought to be true was […]