Links in “Credit Unions”
- Don’t Expect Easing of Iran Sanctions to Reduce AML Monitoring Anytime Soon
While there are still some hurdles to jump before Iranian sanctions are eased, for now compliance officers will need to ensure their compliance programs are fully vigilant in looking for "bad" activities. [12/2]
- Black Friday Aside, Holiday Spending Expected to be Higher This Year
The 14th annual holiday spending survey conducted by CUNA and the Consumer Federation of America (CFA) shows that a higher percentage of consumers say this will spend more this holiday season than they did last year. In fact, they survey results are the strongest since 2006. [12/2]
- Data Breaches Decline in 2013, But Lessons Still Being Learned the Hard Way
Data breaches declined from 27.8 million records compromised last year at this time to 10.6 million records compromised. But the news isn't all good. Here are lessons from four major data breaches in 2013. [11/27]
- Instagram Used in Scam Against Credit Union
A member of Pennsylvania State Employees Federal Credit Union allegedly used the social media site Instagram to deposit more than $62,000 into 14 different fraudulent accounts at the credit union and then withdrew $22,640 from ATMs in Pennsylvania and New Jersey before the fraud was detected. [11/27]
- NCUA Free Webinar Addresses Succession Planning
NCUA is hosting a free webinar on Tuesday, Dec. 17 at 2:00 pm EST on succession planning. Industry experts and a credit union manager will discuss a number of scenarios, including emergency CEO succession and the advancement or dismissal of key personnel. Registration can be done on the NCUA website here. [11/27]
- Industry Groups Respond to CFPB Mortgage Servicing Rules
Three trade associations (ABA, CBA and MBA) send 4-page letter to CFPB outlining their concerns over the interim final rule that amends mortgage servicing rules. [11/26]
- Latest IT Threat: Cheap âFullzâ
A "fullzâ is a dossier of credentials for an individual usually including personally identifiable information that cyber crooks use to commit identity theft and fraud. The bad news is that the crooks have more of these dossiers than they know what to do with and they are being bought and sold for as little as $25 each. [11/26]
- NCUA Issues Letter to Credit Union Summarizing CUSO Regulation Changes
Here are the recent changes to the CUSO rule, in a table format, via NCUA's letter 13-CU-13. The changes expand many existing provisions to state-chartered, federally insured credit unions, as well as create new reporting requirements for all CUSOs. The changes take effect on June 30, 2104. [11/26]
- Complianceball: The Art of Winning an Unfair Compliance Game
Using principles from the book and movie "Moneyball," AffirmX's Ken Agle discusses what smaller institutions can learn about competing with larger institutions when it comes to compliance from the Oakland Athletics of the early 2000s, who successfully competed despite having the third smallest payroll. [11/25]
- Key Differences Between Proposed and Final TILA-RESPA Rule
CFPB breaks down the key differences between the proposal and the 1,888 final rule. [11/25]
