Links in “Compliance Tips”

When it comes to regulatory compliance, what are the best ways to gauge the health of your institution’s regulatory program? Asking the right questions is always a good place to start. So what are the main kinds of questions compliance experts get asked? And what are the questions experts suggest you should be asking? [8/14/15]

A recent survey asked a cross section of credit unions and banks what issues their examiners focused on most during their last exam. The top three concerns: insensitivity to market risk; liquidity; and asset quality. [8/14/15]

Does TRID permit credit unions to provide revised Loan Estimates solely for "informational purposes" when settlement costs increase, but are still within the applicable tolerance limits? If you're asking this question, you're not alone. [7/31/15]

Providing compliance training and written policies and procedures is not always enough to ensure that your staff doesn’t commit compliance violations. An effective compliance culture embeds compliance into every business decision and member interaction in which your staff members are involved. [7/23/15]

The rivalry between "actual business" and "compliance" is heating up, and compliance appears to be winning, with financial institutions like JPMorgan hiring 8,000 compliance people since the start of the financial crisis. [6/25/15]

The market share for smaller financial institutions is shrinking at an alarming rate. A report released this last February by the Harvard Kennedy School on “The State and Fate of Community Banking” is capturing industry attention for its dire findings. According to the report’s authors, the community banks’ share of U.S. banking asset and lending markets has fallen by 50% in the last 20 years. Moreover, the rate of decline has increased significantly in the past four years—almost double the rate it had sunk in the previous 16 years of decline. Is there any good news? And what did the report find that can help the smaller financial institution stay afloat. [6/9/15]

Examiners are taking a closer look at behavioral factors within credit unions that promote fast and effective responses to regulatory changes.  Do you know the five principles and characteristics of a strong compliance culture? [5/15/15]

Chances are you haven't crammed for a final in quite some time. But why not give the FFIEC Cybersecurity Exam the old college try? Recently, the FFIEC released several statements to aid financial institutions in not only preparing for a cybersecurity exam, but also in creating a sturdier standard of defense against the almost inevitable threat of cyber attack. [5/12/15]

In this high stakes regulatory world, it's more important than ever for a CU to stay compliant; this takes quite a bit of time and resources. That's why organizations have started putting more stock in hiring and tasking entire departments under a chief risk officer. [5/5/15]

Examinations can often turn into adversarial situations, but that doesn’t have to be the case.  Here are some common-sense useful tips that can improve your exam experience. [5/4/15]