Regulatory Compliance Update: Operations
Topics & Objectives
Please note that the Topics/Objectives listed below are subject to change.
DAY 1: DEPOSIT ACCOUNTS & SERVICES COMPLIANCE
Federal Reserve Board and Regulation D
You’ll learn about the basic compliance aspects of Regulation D, which provides the reserve requirements and defines the types of accounts your credit union can offer. Know the limits for certain transactions.
Expedited Funds Availability Act and Regulation CC
Understand the rules for two aspects of banking governed by this law: (1) The availability of funds in an account; and (2) The process of collecting and returning checks.
Truth in Savings Act
Know your credit union’s TISA obligations and understand the recent regulatory revisions for e-banking and overdraft privileges.
Electronic Funds Transfer Act and Regulation E
Discern the facts from the myths in your credit union’s compliance obligations. You’ll review the law along with recent revisions.
Fair Credit Reporting Act
Understand the general purpose of the FCRA and how it applies to deposit accounts and operations.
Privacy Obligations and Disclosures
Protecting your members’ personal information and using it in a manner consistent with member expectations must be a top priority for every credit union. Learn how to comply with the rules for privacy obligations and disclosures.
Bank Secrecy Act Overview
Don’t learn the hard way that BSA compliance deficiencies can bring harsh penalties and harm your credit union's reputation. Know how the rules apply to deposit accounts, services, and operations.
DAY 2: ADVANCED OPERATIONAL COMPLIANCE ISSUES
Account Inactivity, Dormancy, and Escheat Issues
Helloooo, is anyone out there? Set up the proper notifications and understand the rules for handling those inactive accounts.
Proper Handling of Subpoenas, Levies and Other Legal Processes
There’s no need to panic when a subpoena, levy and other legal document arrives. As with everything else, you need the right policies and procedures in place so everyone at the credit union knows what to do first.
Powers of Attorney
Learn how to review the Power of Attorney document closely to see what powers are authorized.
Elder Abuse Issues
If you believe a member’s account is being accessed by an unauthorized person, learn how and when to report suspicious transactions.
Trust Accounts
Learn about the different types of trusts that credit unions can offer and the correct documentation for opening a trust. Understand the practical considerations for The Uniform Gifts to Minors Act (UGMA) and the Uniform Transfers to Minors Act (UTMA).
Overdraft Privilege Rules
Consumers have written checks for more than their available balance since checking accounts were invented. Get an update on the compliance issues and audit considerations for overdraft privileges.
Serving Non-U.S. Citizens
Learn what documentation you need when a foreign individual opens an account.
Sarbanes-Oxley Act
The NCUA Letter to Federal Credit Unions (No. 03-FCU-07) notes that while the Sarbanes-Oxley Act does not apply to credit unions, certain provisions may be appropriate for some credit unions to consider.
Vendor Management and Due Diligence Obligations
This year, the NCUA has made it clear that third party relationships are a top focus for regulatory examinations. Examine the regulatory requirements for vendor due diligence to ensure you have an adequate vendor management program.
Compliance Hot Topics
Get a "heads up" on new and pending rules, laws, and regulations. Discuss compliance training requirements and other insights.
Commercial Account ABCs
If your credit union offers accounts for sole proprietorships, partnerships, or corporations, you need to understand how to handle these "non-consumer" accounts. If this topic is not applicable to you, feel free to skip this session.
For more program content information or to request a brochure call 800-356-9655, ext. 4882, or email abollman@cuna.coop. For registration questions, call 800-356-9655, ext.4400 or e-mail reginfo@cuna.coop.
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