Best Practices Lead to Best Results

 As regulators shift focus, fully disclosed financial services still matter by Cheryl Lawson, EVP-Compliance Review   Following the recent passage of the Economic Growth, Regulatory Relief and Consumer Protection Act (S.2155) – which was intended to roll back some of the regulations of the Dodd-Frank law for smaller financial institutions – the Bureau of Consumer Financial Protection […]

Comments on NCUA risk-based capital rule due Sept. 7

NCUA’s risk-based capital proposed rule has been published in the Federal Register, and comments will be due Sept. 7. CUNA called the proposal a step in the right direction, but still questions the need for such a rule. The proposal would delay implementation of the risk-based capital rule by one year, to Jan. 1, 2020, back from the currently scheduled Jan. […]

InfoSight Spotlight: Fed announces Outlook Live presentation

The Federal Reserve will present “Complaints as a Supervisory and Risk Management Tool” as part of its Outlook Live webinar series on consumer compliance topics, on Aug. 29 at 2 p.m. ET. The presentation and Q&A segment will run for a total of one hour and will summarize what an effective complaints management system looks […]

Protect your credit union from cybercrimes

Some of the largest corporations with the best access to security have been hacked and breaches are in the news almost every week. LEVERAGE, an affiliate of the League of Southeastern Credit Unions has cyber security solutions tailored for credit union needs, including monitoring, audit, and compliance services. LEVERAGE is introducing two new products specifically designed […]

FASB proposes modifying effective date of CECL standard

In promising news for credit unions on the compliance front, the Financial Accounting Standards Board is proposing to modify the effective date of its Current Expected Credit Losses standard for non-public companies. If approved, this change will allow private banks and credit unions an extra year to get ready for the new rules. Technically, the […]

InfoSight Spotlight: OCC semiannual risk perspective resource helpful to CU

According to InfoSight, although the Office of the Comptroller of the Currency (OCC) does not regulate credit unions, a recent resource published in the Spring of 2018 may provide helpful insight into the types of risk faced by all financial institutions, and what trends to watch for. Click here to read this resource from the OCC. […]